New Fortress Energy Inc.
04/02/2026 | Press release | Distributed by Public on 04/02/2026 15:01
Material Agreement (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement.
LCF Forbearance Agreement
On March 27, 2026, the Company entered into a forbearance agreement (the "LCF Forbearance Agreement"), by and among the Company, certain of its subsidiaries as guarantors party thereto, the lenders party thereto and Natixis, New York Branch as administrative agent and collateral agent under that certain Letter of Credit and Reimbursement Agreement, dated as of July 16, 2021 (as amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the "Letter of Credit Agreement"), by and among the Company, as the borrower, the guarantors from time to time party thereto, Natixis, New York Branch, as administrative agent and collateral agent, and each of the other financial institutions from time to time party thereto, as lenders and issuing banks, pursuant to which, among other things, the lenders agreed to forbear from exercising all of their rights and remedies under the Letter of Credit Facility with respect to certain specified defaults listed which may arise prior to the termination date of the LCF Forbearance Agreement.
Unless earlier terminated, the LCF Forbearance Agreement will terminate on September 15, 2026. Upon the termination of the LCF Forbearance Agreement, if a further forbearance is not agreed to, the lenders could require the Company to cash collateralize the outstanding principal balance of the loans and all other amounts owing under the Letter of Credit Agreement. The LCF Forbearance Agreement contains certain consents, covenants and termination rights that are consistent with the Restructuring Support Agreement (the "RSA"), entered into on March 17, 2026, by and among the Company, certain of its direct and indirect subsidiaries party thereto, NFE Financing LLC, a Delaware limited liability company, NFE Brazil Investments LLC, a Delaware limited liability company, one or more subsidiaries of the Company that will accede to the RSA by delivering a joinder, Kroll Issuer Services Limited, and each of the undersigned holders or lenders party thereto, pursuant to which the parties agreed to certain transactions related to recapitalizing the Company's indebtedness.
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