06:06 PM EDT, 10/02/2024 (MT Newswires) -- New Fortress Energy ( NFE ) said Wednesday it expects to raise $725 million in new capital from its debt and equity transactions, which will provide sufficient liquidity for its initiatives and help generate positive free cash flow in 2025.

The company said it will issue roughly $2.6 billion in senior secured notes due 2029 under a "transaction support agreement" with certain of its existing noteholders. On Wednesday, it sold 46.3 million class A common shares at $8.63 per share in a public offering, for gross proceeds of $400 million.

New Fortress said its debt transactions involve the issuance of about $2.6 billion of new notes to redeem $875 million of its existing 2025 notes and to swap for $1.4 billion in existing 2026 and 2029 notes, thus raising $325 million in fresh liquidity.

The company said it expects the debt transactions to "materially" extend its maturities across its balance sheet.

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