NextDecade pays down $190 million of term debt via note placement

By William Gullotti

Buffalo, N.Y., Feb. 12 – NextDecade Corp., via its indirect subsidiary Rio Grande LNG, LLC, reduced the commitments under its existing term loan facilities using funds from a private placement of senior secured notes due 2047 on Feb. 9, according to an 8-K filing with the Securities and Exchange Commission.

The $190 million placement resulted in a reduction of the phase 1 facilities to about $10.3 billion from roughly $10.5 billion.

As previously reported, the phase 1 term loans were used finance a portion of the first three LNG trains at NextDecade’s 27 million tonnes per annum (MTPA) Rio Grande LNG export facility in Brownsville, Tex.

Houston-based NextDecade is an energy company working on more sustainable LNG and carbon capture solutions.

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