NFE Financing LLC · Failure to pay · 2025 · 12.000% Senior Secured Notes due 2029
Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?
Verified answer
Basis. Payable in USD, which is a Specified Currency (USD, EUR, JPY, GBP, CHF, CAD).
Source clauses
Indenture of 2024-11-22
How it was checked · 3 checks
- Rule re-applied. The Specified Currency rule (v1.0), re-applied to the stored facts, gives the same result as the Mastermind v3 run of 2026-09-26.
- Quote verified. The clause quoted for the currency appears verbatim in the cited sections.
- Independent extractor. A heuristic extractor that does not see the model's reading also finds the currency: usd.
Specified Currency
The obligation must be payable in a Specified Currency (by default the Standard Specified Currencies: the lawful currencies of Canada, Japan, Switzerland, the United Kingdom and the United States, and the euro).
These checks are CDSBench's provisional reading of the 2014 ISDA Credit Derivatives Definitions, not legal advice.
Instrument: 12.000% Senior Secured Notes due 2029
Source documents
The case record. Sections behind the verified answer are marked.
- 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
Related questions and cases
Same case
- #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 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
- #5 Does the instrument meet the Not Bearer characteristic?Yes
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?Yes
- #7 Does the instrument meet the Transferable characteristic?Yes
- #8 Is the issuer of the instrument the Reference Entity?Yes
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