New Fortress Energy(US:NFE) The Motley Foolยท2024-10-01 20:06Group 1 - New Fortress Energy successfully negotiated a deal with creditors, exchanging existing notes for new ones with a higher interest rate of 12% due in 2029, while securing these notes with a 49% stake in its Brazil operations [2][3] - The company raised $400 million by selling 46.3 million shares at $8.63, with CEO Wesley R. Edens purchasing 5.8 million shares to boost investor confidence [3] - Despite these measures providing some short-term relief, the company faces challenges due to high leverage, with over $7.6 billion in debt against only $133 million in cash [4][5] Group 2 - New Fortress missed earnings guidance in its second-quarter report, primarily due to delays in its new floating LNG facility, raising concerns about its ability to manage debt maturities [4] - The company's management has projected adjusted EBITDA of $1.3 billion for 2025, which is still considered high leverage given its substantial net debt exceeding $7 billion [5] - The recent actions taken by New Fortress indicate a high-risk profile, as the company remains heavily reliant on LNG price fluctuations [5]