New Fortress Energy down on report of UK debt restructuring plan

Shares of U.S. LNG firm New Fortress Energy NFE.O down 7.8% at $1.41

NFE is considering restructuring its debt through a UK process known as a scheme of arrangement, Bloomberg News reported late on Tuesday, citing people familiar with the matter

The UK court procedure, which is typically cheaper than a U.S. bankruptcy, could be less detrimental to contracts than a Chapter 11 filing, the report added

Including session's moves, NFE shares down 90.7% YTD