- Excelerate Energy (EE, Financial) prices $800 million in 8.000% senior notes due 2030.
- The offering was increased from an initial $700 million to $800 million.
- Proceeds will partially fund a $1.055 billion acquisition in Jamaica and repay debt.
Excelerate Energy, Inc. (EE) has announced the pricing of an upsized offering of $800 million in aggregate principal amount of 8.000% unsecured senior notes due 2030. These notes, scheduled to mature on May 15, 2030, will be issued at par and are set to close on May 5, 2025, contingent upon customary closing conditions. The offering was expanded from an initial amount of $700 million to $800 million.
The proceeds from the senior notes will be utilized to fund part of Excelerate's acquisition of New Fortress Energy, Inc.’s (NFE) business in Jamaica, which is valued at $1.055 billion, subject to certain adjustments. Additionally, the funds will help repay $163.6 million in outstanding borrowings under the company's term loan facility as of December 31, 2024, along with covering related fees and expenses.
The 2030 notes will have guarantees from certain direct and indirect restricted subsidiaries of the issuer. Available to qualified institutional buyers in the U.S. under Rule 144A, and to international investors under Regulation S, the notes remain unregistered under the Securities Act of 1933, requiring purchasers to meet specific qualifications.
Excelerate Energy continues to innovate within the LNG sector, offering integrated services aimed at delivering rapid-to-market solutions. With a global presence in several cities including Abu Dhabi, Antwerp, and Buenos Aires, the company is committed to expanding its energy footprint.
