New Fortress completes restructuring that extinguishes $5.7 billion of debt
New Fortress Energy ($NFE) completed a court-supported restructuring that separates its Brazilian operations from the remaining business and extinguishes approximately $5.7 billion of third-party debt. The transaction also provides $136.5 million of new financing. Management said corporate debt in the remaining business is approximately $700 million following the recapitalization. The balance-sheet relief comes with a substantial transfer of ownership and economic rights to creditors. They recei
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