Excelerate Energy announced that Excelerate Energy Limited Partnership, a subsidiary of Excelerate, has commenced an offering of $700 million in aggregate principal amount of unsecured senior notes due 2030 (the “2030 Notes”). Excelerate intends to use the net proceeds from the Offering, together with the net proceeds from the equity offering previously consummated by the Company and cash on hand, to fund the consideration payable by the Company in the previously-announced pending acquisition of New Fortress Energy, Inc.’s business in Jamaica for $1.055 billion, subject to certain adjustments, (ii) repay the outstanding borrowings under the Company’s term loan facility, which were $163.6 million as of December 31, 2024, and pay related fees and expenses.
The 2030 Notes will be guaranteed by certain direct and indirect restricted subsidiaries of the Issuer.
The 2030 Notes are being offered in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside the United States only in compliance with Regulation S under the Securities Act. The 2030 Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.