NextDecade Secures $1.115B in Senior Notes

NextDecade Corporation (NASDAQ: NEXT) has announced that its subsidiary, Rio Grande LNG, LLC, has issued $1.115 billion of senior secured notes in a private placement. These notes will accrue interest at a fixed rate of 6.58% and will be utilized to reduce outstanding borrowings and commitments under Rio Grande LNG's existing term loan facilities for phase 1 at the Rio Grande LNG facility.

The senior secured notes will be amortized over a period of 18 years beginning in September 2029, with a final maturity in September 2047. This issuance ranks pari passu with Rio Grande LNG's existing senior secured financings.

This issuance brings the total amount of the original $11.1 billion Rio Grande LNG term loan facilities that have been refinanced to over $1.85 billion since a positive final investment decision was reached on phase 1 at the Rio Grande LNG facility in July 2023.

NextDecade Corporation is focused on accelerating the path to a net-zero future and is leading innovation in more sustainable LNG and carbon capture solutions. Through its subsidiaries, Rio Grande LNG and Next Carbon Solutions, the company is developing a 27 million tonnes per annum LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. The company is also working with third-party customers around the world to deploy 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," and the company is headquartered in Houston, Texas. Today the company's shares have moved -2.0% to a price of $7.78. For more information, read the company's full 8-K submission here.

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