New fortress energy announces $725 million shipping term loan facility

New york--(business wire)--new fortress energy inc. (nasdaq: nfe) (“new fortress” or the “company”) announced today that it has executed a term loan facility secured by eight company vessels (the “shipping facility”). the company made an initial borrowing of $430 million and can borrow up to $725 million under the shipping facility. the shipping facility has a three-year term, and loans issued under the facility will bear interest at an annual rate equal to libor plus 3.00%, subject to a 0.0% l
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