New Fortress Energy Completes Comprehensive Debt Restructuring, Separates Brazil Business

summarizeSummary

New Fortress Energy completed its debt restructuring, separating its Brazil business and handing 65% of CoreCo equity to creditors. Existing shareholders retain only 35% of the restructured company.

check_boxKey Events · Financing and Capital Events · NFE

• Restructuring Consummated

  The company separated into CoreCo and BrazilCo, terminated all existing funded debt, and issued new debt and equity to Plan Creditors.

• Creditors Take 65% of CoreCo

  Plan Creditors received 10,608,922 shares of CoreCo common stock (65%) and 2,454,936 shares of mandatorily convertible preferred stock; existing stockholders retain 35%.

• New Debt Structure

  $571.3M take-back term loans, $136.5M capital raise (including $100M junior loans), $400M FLNG 2 term loans, and $200M FLNG 2 preferred equity.

• Reverse Split Effective

  The 1-for-50 reverse stock split became effective September 11, 2026; shares trade split-adjusted under ticker NFE.

auto_awesomeAnalysis · NFE · Energy & Transportation

The comprehensive restructuring was consummated on September 11, 2026, splitting New Fortress Energy into two independent companies: CoreCo, which retains the non-Brazil assets, and BrazilCo, which holds the Brazilian operations. The deal terminated approximately $1.1 billion of existing debt and replaced it with $571.3 million in take-back term loans, $136.5 million in new capital raise loans, $400 million in FLNG 2 term loans, and $200 million in FLNG 2 preferred equity. Plan Creditors received 65% of CoreCo common stock (10,608,922 shares) and 2,454,936 shares of mandatorily convertible preferred stock, leaving existing stockholders with 35%. The 1-for-50 reverse stock split also became effective today. This is the culmination of a months-long restructuring that removes going-concern risk but massively dilutes existing shareholders and transfers majority ownership to former creditors.