New Fortress Energy Delivers Debt Swap Proposal to Creditors

Wes Edens’ New Fortress Energy Inc. delivered a debt restructuring proposal to advisers of multiple creditor groups, according to people with knowledge of the situation.

• The liquefied natural gas company is looking to slash its obligations and will seek a potential debt-for-equity swap, said the people, who asked not to identified because the discussions are private
• Creditor advisers previously entered into private talks with the company
• New Fortress Energy has nearly $9 billion of debt, most of which is trading at distressed levels
  • Its 12% bonds due 2029 changed hands at 32.5 cents on the dollar Friday, up from ...