New Fortress Energy Inc. has entered into a Second Amendment to its Credit Agreement, allowing the company to raise an additional $425 million in incremental term loans. The amendment also provides for the exchange of existing term loans for new loans of the same class, bringing the total commitments under the amended term loan to approximately $1.27 billion. The proceeds from the additional loans will primarily fund capital expenditures for the company’s FLNG2 assets and other corporate expenses.

The new term loans will bear interest at either a base rate plus 4.50% per annum or a Term SOFR rate plus 5.50% per annum. Certain prepayment penalties apply if the loans are repaid before the third anniversary of the closing date. The maturity date remains unchanged at October 30, 2028.

Additionally, New Fortress Energy has amended its existing credit agreements, including an uncommitted letter of credit and reimbursement agreement, allowing for additional incremental loans under its term loan facility. The company has also eliminated future borrowing potential under one of its credit facilities by reducing available commitments to zero. These amendments collectively provide greater flexibility in managing the company’s capital structure.