New Fortress Energy Bonds Slump After Losing Puerto Rico Bid

New Fortress Energy bonds sunk in the high-yield market after being disqualified from an auction held by the Puerto Rican government to secure temporary power generation.

• The company’s 12% bonds due 2029 fell 8.625 cents on the dollar to 34 cents, as of 9:53am ET, according to Trace data
• The 8.75% bonds due 2029 fell 5.50 cents on the dollar to 27.50 cents, while the 6.5% notes due 2026 fell 7.20 cents on the dollar to 56 cents, as of 9:53am ET, according to Trace data
• READ: New Fortress Energy HY Bond Trading Surges; Nov. 2029 Bond Declines

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