For quite some time now, New Fortress Energy has been in the limelight due to its magnificent contributions in helping the world transit into clean energy. Recently, the New Fortress Energy announced its completion of securing a loan facility to Shipping Facility in exchange for the company securing the loan with its eight vessels. The Shipping Facility has been given the advantage of borrowing up to 725 million dollars against the initial borrowing of 430 million dollars. The Shipping Facility and the New Fortress Energy have agreed on a three-year term in which all loans borrowed will bear an interest rate of 3.00% LIBOR. This is also subject to an approximate 0.0% LIBOR floor.
The CEO of New Fortress Energy Wes Edens noted that the loans borrowed by the Shipping Facility are payable with nil penalties at any time. The net proceeds from the Shipping Facility will be utilized in the construction and development of the Company’s energy-related infrastructures across the globe. Wes Edens, New Fortress Energy CEO and Chairman noted that his company continues to execute previously laid plans to facilitate the growth of its asset-level financings. Edens depicted that the facility will go a long way in building additional LNG infrastructure and terminals across the globe. Wes Edens asserted that fortress investment in power infrastructures and LNG terminals come with magnificent environmental and economic benefits to the ever-expanding customer base.
New Fortress Energy is one of the global infrastructure companies that deals with energy and was founded to accelerate the procedures of helping the entire world transits into clean energy. According to the chairman and CEO of the company, Wes Edens the company is tasked with the responsibility of funding, operating, and building energy logistics and infrastructure that is aimed at delivering turnkey and fully integrated solutions that enhance economic growth, transform local communities, and industries and also improve environmental stewardship.
Learn more about Wes Edens: https://www.crunchbase.com/person/wes-edens