secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2023-07-12T23:59:59+00:00
Accession:  0001437749-23-019791
Event type: other_material
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000143774923019791/0001437749-23-019791-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000143774923019791/next20230712_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-019791

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer