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THE WOODLANDS, Texas - Excelerate Energy, Inc. (NYSE: EE), a U.S.-based liquefied natural gas (LNG) company with a market capitalization of $3 billion, has initiated an offering of $700 million in unsecured senior notes due in 2030 through its subsidiary, Excelerate Energy Limited Partnership. According to InvestingPro data, the company currently operates with a moderate debt level of $708 million and maintains strong liquidity with a current ratio of 3.49. The offering is part of the company’s financing strategy to fund the acquisition of New Fortress Energy Inc.’s business in Jamaica, repay existing debt, and cover related expenses.
The proceeds from the offering, alongside funds from a prior equity offering and cash reserves, are earmarked for a $1.055 billion purchase of New Fortress Energy’s operations in Jamaica, subject to adjustments, and to repay $163.6 million in outstanding borrowings under the company’s term loan facility as of December 31, 2024. The remaining funds will be used to pay associated fees and expenses. InvestingPro analysis reveals the company has maintained strong financial health, with an overall score of "GOOD" and liquid assets exceeding short-term obligations.
The 2030 Notes, which are to be guaranteed by certain Excelerate subsidiaries, are available in the United States only to qualified institutional buyers according to Rule 144A under the Securities Act of 1933, and to non-U.S. persons in compliance with Regulation S. These notes have not been registered under the Securities Act and cannot be offered or sold in the U.S. without registration or an applicable exemption.
Excelerate Energy, headquartered in The Woodlands, Texas, operates with the vision of changing how the world accesses cleaner energy by providing integrated LNG services. The company has a global presence, including locations in Abu Dhabi, Boston, Buenos Aires, and Singapore. With annual revenue of $851 million and EBITDA of $316 million, the company has demonstrated strong market performance, achieving a remarkable 64.85% return over the past year. InvestingPro subscribers have access to over 10 additional key insights about Excelerate Energy’s financial health and growth potential through comprehensive Pro Research Reports.
The press release contains forward-looking statements, which are based on current expectations and projections about future events. These statements include the completion of the notes offering, the intended use of proceeds, and the pending acquisition’s terms. However, these forward-looking statements are subject to risks, uncertainties, and other factors that may affect the company’s business and financial results.
The company has not provided any further details about the offering’s closing conditions or the anticipated benefits of the acquisition. This news is based on a press release statement issued by Excelerate Energy, Inc.
In other recent news, Excelerate Energy has announced its preliminary financial results for the first quarter of 2025, projecting income before taxes to range between $52 million and $59 million. The company’s Adjusted EBITDA is expected to be between $96 million and $101 million, indicating strong operational performance. Additionally, Excelerate Energy has finalized the acquisition of New Fortress Energy’s Jamaican assets for $1.055 billion, aiming to expand its global market presence. The sale includes an LNG import terminal and other infrastructure, with the transaction expected to close in the second quarter of 2025.
Furthermore, Excelerate Energy has signed a Memorandum of Understanding with PV Gas to secure a stable LNG supply from the United States, potentially starting in 2026, to meet Vietnam’s growing energy demands. The company also recently completed an upsized public offering, raising approximately $184.3 million to fund the Jamaican acquisition, although this move led to a decline in its stock price due to concerns about share dilution. Barclays and Morgan Stanley led the offering, with several other financial institutions participating. These developments highlight Excelerate Energy’s strategic efforts to enhance its market position and operational capabilities.
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