(Source: Shutterstock)
A month after a $1.055 billion acquisition, downstream-focused LNG company Excelerate Energy commenced a $700 million offering of unsecured senior notes due 2030, the company announced April 21.
The firm said the notes, previous proceeds from other equity offerings and cash on hand will be used to fund the $1.055 billion acquisition of New Fortress Energy’s LNG import business in Jamaica. Remaining proceeds will be used to pay approximately $163.3 million in loans.
The 2030 notes will be guaranteed by direct and indirect restricted subsidiaries of the issuer. Woodlands, Texas-based Excelerate Energy is offering the notes solely in the U.S. to buyers who qualify as institutional investors.
The notes are not registered under the Securities Act, therefore, they may not be sold in the U.S. absent registration or an applicable exemption from the registration requirements.
Recommended Reading
USD Completes Final Asset Sale of Hardisty Terminal
2025-04-13 - USD Partners was obligated to sell the Hardisty Terminal, in Alberta, Canada, after entering a forbearance agreement with its lenders on June 21 2024.
NGP Backs Wing Resources with $100MM to Buy Permian Mineral Interests
2025-04-02 - Wing Resources VIII, which is backed by NGP Royalty Partners III, will focus on acquiring “high-quality” mineral and royalty interests across the Permian Basin, the company said.
IOG Resources Forms Third Vehicle Focused on Non-Op M&A
2025-05-06 - IOG Resources III Holdings LLC, again backed by First Reserve, has an investment target ranging from approximately $50 million to $200 million.
Waterous Raises $1B PE Fund for Canadian Oil, Gas Investments
2025-04-01 - Waterous Energy Fund (WEF) raised US$1 billion for its third fund and backed oil sands producer Greenfire Resources.
Phillips 66 Sells Majority Interest in European Fuel Retailer
2025-05-15 - Stonepeak and Energy Equation Partners acquired a 65% interest in JET Tankstellen Deutschland from Phillips 66 in a transaction valuing the business at US$2.8 billion.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.