HOUSTON, June 25, 2026--(BUSINESS WIRE)--NextDecade Corporation ("NextDecade") (NASDAQ: NEXT) announced today that its partially-owned subsidiary, Rio Grande LNG, LLC ("RGLNG") has sized and priced its previously announced offering of senior secured notes (the "Senior Secured Notes"). RGLNG will issue $1.0 billion senior secured notes due 2031 (the "2031 Notes"), $500.0 million senior secured notes due 2034 (the "2034 Notes"), $1.25 billion senior secured notes due 2036 (the "2036 Notes") and $750.0 million senior secured notes due 2041 (the "2041 Notes" and, together with the 2031 Notes, 2034 Notes and 2036 Notes, the "Senior Secured Notes"). The 2031 Notes were priced at 99.918% of par, bear an interest rate of 5.250% and will mature on June 30, 2031. The 2034 Notes were priced at 99.877% of par, bear an interest rate of 5.500% and will mature on January 30, 2034. The 2036 Notes were priced at par, bear an interest rate of 5.750% and will mature on June 30, 2036. The 2041 Notes were priced at par, bear an interest rate of 6.150% and will mature on June 30, 2041. The closing of the offering is expected to occur on July 2, 2026, subject to customary closing conditions.
RGLNG intends to use the net proceeds from the offering of Senior Secured Notes to (i) repay a portion of the outstanding borrowings under its existing credit agreements and (ii) to pay related fees and expenses thereto. The Senior Secured Notes will rank pari passu to RGLNG's existing term loan facilities, working capital facility, senior secured notes, and senior secured loans.
The offer of the Senior Secured Notes has not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction, and the Senior Secured Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Senior Secured Notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States only in compliance with Regulation S under the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these Senior Secured Notes, nor shall there be any sale of these Senior Secured Notes in any jurisdiction in which such offer, solicitation, or sale of these Senior Secured Notes would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.