Excelerate Energy Announces Proposed Offering Of $700M Of Senior Notes Due 2030

Excelerate Energy, Inc. (NYSE:EE) ("Excelerate" or the "Company") today announced that Excelerate Energy Limited Partnership (the "Issuer"), a subsidiary of Excelerate, has commenced an offering (the "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 (i) fund the consideration payable by the Company in the previously-announced pending acquisition of New Fortress Energy, Inc.'s (NASDAQ:NFE) 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 (iii) pay related fees and expenses.

The 2030 Notes will be guaranteed by certain direct and indirect restricted subsidiaries of the Issuer.