New Fortress Energy Bonds, Loan Tumble on Refinancing Concerns

Liquefied natural gas company New Fortress Energy’s junk bonds and leveraged loan dropped on Thursday, signaling increasing concern around its refinancing risk.

• The firm’s 12% bonds due 2029 dropped 6 cents on the dollar to 76 cents, according to data from pricing system Trace
  • Its notes were among the biggest decliners in the junk-bond market Thursday
• NFE’s term loan maturing in 2028, which priced a $425 million add-on in February at 92 cents, was down about 4 cents from the prior day to 80-82 cents, according to people with knowledge of the matter, who asked not to be identified ...