Billionaire Edens Cuts Restructuring Deal With NFE Creditors

Billionaire Wes Edens has reached a deal with creditors to restructure New Fortress Energy Inc., in a transaction that will cut the company’s debt by 90%.

As part of the deal, which will be carried through a UK restructuring plan, creditors will exchange their existing holdings for debt, preferred equity and common equity in a newly created entity, according to a company statement on Tuesday.