NextDecade closes $700 million secured notes private placement for Rio Grande LNG project

By Wendy Van Sickle

Columbus, Ohio, July 13 – NextDecade Corp. announced the closing of a $700 million senior secured non-recourse private placement notes offering for a liquefied natural gas project, according to a news release.

The notes come as part of NextDecade’s final investment decision to construct the first three liquefaction trains at Rio Grande LNG export facility in Brownsville, Tex. The company also announced it closed senior secured non-recourse bank credit facilities of $11.6 billion, comprising $11.1 billion in construction term loans and a $500 million working capital facility, in connection with the project.

Also, a joint venture agreement for phase 1 of the project was executed, which included approximately $5.9 billion of financial commitments from partners Global Infrastructure Partners, GIC, Mubadala Investment Co. and TotalEnergies. NextDecade committed to invest $283 million in phase 1.

Based in Houston, NextDecade is an energy company that aims to accelerate the path to a net-zero future. Based in Paris, TotalEnergies is an oil, gas and solar power company.

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