New Fortress Energy Shares Fall 9.5% on Restructuring Plan Granting Brazil Assets and FLNG-1 Recoveries
New Fortress Energy’s shares slid 9.49% Feb 3-10 after plans emerged for a restructuring support agreement granting creditors preferred equity. Under the proposal bondholders would take over Brazil assets and term lenders recover value tied to the FLNG-1 facility, Puerto Rico terminal and other downstream operations.
1. Share Price Decline
New Fortress Energy’s share price fell 9.49% between February 3 and 10, placing it among the week’s worst performing energy stocks following news of a potential restructuring support agreement.
2. Restructuring Support Agreement Terms
The proposed deal would grant creditors preferred equity, with bondholders assuming NFE’s Brazil assets and term loan lenders recovering value tied to the FLNG-1 floating facility off Mexico, the Puerto Rico terminal and other downstream operations.
3. Forbearance and Credit Downgrade
In December 2025 NFE entered a forbearance agreement with lenders, prompting S&P to cut its issuer credit rating from CCC- to SD, intensifying concerns over the company’s debt servicing and liquidity prospects.