Wes Edens’ New Fortress Energy On-boards $725 Million Shipping Term Loan Facility

New Fortress Energy recently announced its plan to execute a loan facility that was secured by at least eight firm vessels, also known as the shipping facility. The company initially borrowed 430 million USD and currently can borrow up to 725 million USD under the shipping facility. It has a term of three years, and loans issued under it will bear interest at a yearly rate of LIBOR in addition to 3%, that will be subject to what they call zero percent LIBOR floor. The facility is also pre-payable at par without penalty at any time. The shipping facility’s net profits will fund the construction and development of the firm’s energy infrastructure globally.

The company’s new Chief Executive Officer Wes Edens, disclosed that New Fortress Energy continues to execute the previously laid out plan to facilitate the company’s growth thanks to financings from asset-level startups. He added that the facility provides extra capital for them to build additional infrastructure and LNG terminals worldwide. He emphasized that the facility’s investments in power infrastructure and LNG terminals bring significant environmental and economic benefits to the expanding customer base.

New Fortress Energy is a reputable multinational energy and infrastructure company that was incepted to accelerate the transition to clean energy globally. Through Wes Edens outstanding leadership, the company funds and operates natural gas logistics and infrastructure to promptly deliver fully integrated turn-key energy solutions that promote economic growth, transform local communities & industries, and boost environmental stewardship.

Wes Edens put forward the company’s expectations and beliefs concerning future events. The expectations include the company’s use of the proceeds to fund the global construction of various energy infrastructures. New factors are prone to emerge with time, and it’s not always possible for the company to predict them all. The firm’s forward-looking statements are therefore subject to uncertainties, risks, and other factors that are basically outside the firm’s jurisdiction.

Learn more about Wes: https://angel.co/wes-edens