New Fortress Energy Taps Houlihan for Advice Amid Bond Rout

Billionaire investor Wes Edens’ New Fortress Energy Inc. has tapped Houlihan Lokey for advice in anticipation of talks with creditors to cut its debt load, according to people with knowledge of the situation who asked not to be identified because they’re not authorized to speak publicly.

The liquefied natural gas company has been struggling with delayed projects that have dented its cash flow, resulting in even greater pressure on its already distressed debt pile. Its stock and bonds were roiled again Wednesday after Puerto Rico said it was ending negotiations over a 15-year deal to supply the island with LNG worth an estimated $20 billion.