10:41 AM EDT, 10/16/2026 (MT Newswires) -- Fermi (FRMI.L), d/b/a Fermi America, secured an amendment to the terms of an equipment supply loan financing from MUFG Bank. The amendment, secured by subsidiaries Fermi Turbine Warehouse and Firebird Equipment Holdco, removes a covenant that required the private grid company to sign a lease or offtake arrangement covering 400 megawatts at the Project Matador site by Nov. 10, according to a Friday release. It also eliminates the potential increase in amortization that would have followed a failure to meet the said covenant. Fermi America expects the move to remove potential required principal payments by $22 million in the fourth quarter of 2026, $19 million in the first quarter of 2027, and $15 million in the second quarter of 2027.

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