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NFE Financing LLC · Corporate

NFE Financing LLC: failure to pay, 2025

NFE Financing LLC: failure to pay credit event on 2025-11-20, worked through from its SEC filings. The 12.000% Senior Secured Notes due 2029 (ISIN US62909BAA52) are a Deliverable Obligation: all 7 checks pass. Each result cites the clause behind it, or says when it rests on the absence of a clause.

1 instrument · 8 questions · 2 documents
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Verified outcome

EligibleIs the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?

Basis. All 7 checks pass on the record: the issuer is the Reference Entity, the instrument meets the Maximum Maturity, Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics, and it is Not Contingent.

Source clauses

For 12.000% Senior Secured Notes due 2029

Reference entity
NFE Financing LLC
Credit event
Failure to pay · 2025-11-20
Entity type
Corporate
Documents
2 in the record

Instruments

Each obligation has its own page with terms and questions.

Questions and verified answers

Open a question for the verified answer, its basis and how it was checked. Clause links open the documents below.

  1. #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the issuer is the Reference Entity; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?
    Eligible
  2. #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?
    Yes

    Indenture of 2024-11-22

  3. #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
    Yes

    Indenture of 2024-11-22

  4. #4 Does the instrument meet the Not Subordinated characteristic?
    Yes

    Indenture of 2024-11-22

  5. #5 Does the instrument meet the Not Bearer characteristic?
    Yes

    Indenture of 2024-11-22

  6. #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?
    Yes
    None: no clause making principal contingent was found.
  7. #7 Does the instrument meet the Transferable characteristic?
    Yes

    Indenture of 2024-11-22

  8. #8 Is the issuer of the instrument the Reference Entity?
    Yes

    Indenture of 2024-11-22

Documents

The case record. 6 sections support the verified answers.

  • DOC-1 New Fortress Energy 8-K filed 2025-12-17, Item 1.01: forbearance on the New 2029 Notes after the interest payment due 2025-11-17 was not made (grace period expired 2025-11-20)excerpts
  • DOC-2 Indenture dated November 22, 2024, 12.000% Senior Secured Notes due 2029, NFE Financing LLC (EX-10.63 to the New Fortress Energy Form 10-K filed 2025-03-10)excerpts

Timeline

  1. 2024-11-22Indenture for the 12.000% Senior Secured Notes due 2029 of NFE Financing LLC (filed as Exhibit 10.63 to the New Fortress Energy Form 10-K).
  2. 2025-11-17NFE Financing LLC does not make the semiannual interest payment due on its 12.000% Senior Secured Notes due 2029.
  3. 2025-11-20The contractual grace period for that interest payment expires; the noteholders' forbearance agreement covers the resulting default.

Related cases

Same entity first, then published cases with a similar event, entity type and questions.

Questions on this case: Deliverability, Deliverable Obligation Characteristic, Additional check, Reference Entity.

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