---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-019791"
form_type: "8-K"
ticker: "NEXT"
cik: "0001612720"
company_name: "NextDecade Corp"
filed_at: "2023-07-12T23:59:59+00:00"
generated_at: "2026-06-13T09:28:09.102413+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# NextDecade reaches FID, closes $11.8B in project financing for Rio Grande LNG Train 1-3

## Summary
- Secured $10.3B CD construction/term loan, $800M TCF credit (TotalEnergies backstop), and $700M 6.67% notes due 2033.
- JV with TotalEnergies and GIP-led group commits up to $5.9B equity; NextDecade subsidiary commits $283M.
- ND Member (NextDecade) entitled to ~20.8% of JVCo distributions; board control with Class A managers.
- RGLNG debt requires 1.10x DSCR; SOFR+2.25% margin on CD loans; mandatory prepayment provisions.
- Project includes first three LNG trains at Port of Brownsville, Texas; construction to commence.

## SEC filing metadata
- accession: 0001437749-23-019791
- form_type: 8-K
- ticker: NEXT
- cik: 0001612720
- company_name: NextDecade Corp
- filed_at: 2023-07-12T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1612720/000143774923019791/0001437749-23-019791-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1612720/000143774923019791/next20230712_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-019791
- JSON: https://secwatch.observer/filing/0001437749-23-019791.json
- Plain text: https://secwatch.observer/filing/0001437749-23-019791.txt

## Key facts
- Debt Financings
  NextDecade Corp incurred credit facility of up to $10.3 billion with MUFG Bank, Ltd. as administrative agent.
  - Instrument: credit facility
  - Principal: up to $10.3 billion
  - Counterparty: MUFG Bank, Ltd. as administrative agent
  - Event: incurrence
  source text: lenders party thereto. The CD Credit Agreement provides for the following facilities: ● a construction/term loan facility (the “ CD Construction/Term Loans ”) in an amount up to $10.3 billion available to RGLNG in three tranches solely to finance partially the design The JV Agreement contains certain restrictions on the ability of the members to transfer their
  evidence_url: https://www.sec.gov/Archives/edgar/data/1612720/000143774923019791/0001437749-23-019791-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.