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Bond Market News
New Fortress Energy in Talks with Creditors to Secure Forbearance Agreement
November 18, 2025
New Fortress Energy is in talks with creditors to secure a forbearance agreement, effectively seeking a delay on interest payments for some of its debt. The company is under pressure as its cash flows have been hampered by delayed projects, leading to struggles with its debt obligations. The forbearance would grant the LNG operator more time to develop a restructuring plan, potentially utilizing a process like a scheme of arrangement. Investor sentiment over New Fortress’ financial issues have been reflected via a sharp decline in its shares and bonds. Its shares are down over 93% YTD, and its dollar bonds are trading at distressed levels. A failure to pay interest on its debt could trigger an event of default, leading to a potential acceleration in principal payments and forcing the company into bankruptcy. Multiple creditor groups have been formed and are engaging major financial and legal advisors.
New Fortress Energy’s 6.5% 2026s are trading at deeply distressed levels of 14.7 cents on the dollar.
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