Business
NextDecade Subsidiary Rio Grande LNG Announces Issuance of $1.115 Billion Senior Secured Notes Due 2047
Note proceeds will be utilized to reduce outstanding borrowings and commitments under existing Rio Grande LNG, LLC term loan facilities HOUSTON--(BUSINESS
About this update from Nextdecade Corporation
[{"type":"text","content":"\nNote proceeds will be utilized to reduce outstanding borrowings and commitments under existing Rio Grande LNG, LLC term loan facilities\n\n\n HOUSTON--(BUSINESS WIRE)--\nNextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that its subsidiary Rio Grande LNG, LLC (Rio Grande LNG) has issued $1.115 billion of senior secured notes in a private placement. These senior secured notes will accrue interest at a fixed rate of 6.58%. Proceeds from the notes will be used to reduce outstanding borrowings and commitments under Rio Grande LNG’s existing term loan facilities for Phase 1 at the Rio Grande LNG Facility.\n\n\nThe senior secured notes will be amortized over a period of 18 years beginning in September 2029, with a final maturity in September 2047. The senior secured notes rank pari passu with Rio Grande LNG’s existing senior secured financings.\n\n\nIncluding this transaction, the Company has now refinanced a total of over $1.85 billion of the original $11.1 billion Rio Grande LNG term loan facilities since a positive final investment decision was reached on Phase 1 at the Rio Grande LNG Facility in July 2023.\n\n\nAbout NextDecade Corporation\n\n\nNextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “conti...