2024-07-17 15:14:57 ET
Summary
- New Fortress Energy faces significant balance sheet issues with nearly $4 billion in debt maturing over the next few years, leading to concerns about refinancing.
- The company's FLNG 1 project aims to secure project financing through a project bond, but the valuation and financing strategy raise red flags for potential lenders.
- Management's handling of debt refinancing, project financing, and balance sheet concerns suggest caution for investors.
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New Fortress Energy: Highlighting Balance Sheet Frustrations