AMERICAS DISTRESS DAILY: New Fortress Taps Adviser for Debt Woes

New Fortress Energy has tapped Houlihan Lokey for advice in anticipation of talks with creditors to cut its debt load. The company’s stock and bonds were roiled again Wednesday after Puerto Rico said it was ending negotiations over a 15-year deal to supply the island with LNG.

• New Fortress Energy’s shares fell 6.4% Wednesday, while the company’s $2.7 billion of 12% bonds due 2029 tumbled 6 cents on the dollar to 40 cents, according to Trace data
• A group of New Fortress Energy debtholders have engaged Evercore Inc. and Akin Gump Strauss Hauer & Feld, while a separate group of ...