---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-026430"
form_type: "8-K"
ticker: "NEXT"
cik: "0001612720"
company_name: "NextDecade Corp"
filed_at: "2023-09-20T23:59:59+00:00"
generated_at: "2026-06-10T12:04:03.799714+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NextDecade subsidiary closes $356M senior loans for Rio Grande LNG Phase 1

## Summary
- Rio Grande LNG subsidiary entered into $356M senior loan credit agreement on Sept 15, 2023; full amount drawn same day.
- Commitments outstanding under existing Phase 1 term loan facilities reduced from $11.1B to under $10.8B.
- Senior loans mature July 2033, bear fixed interest at 6.72% per annum, paid semi-annually starting March 30, 2024.
- Loans rank pari passu with existing term loans, $500M working capital facility, and $700M 10-year senior notes issued at FID.
- Over 80% of projected Phase 1 debt now fixed-rate or hedged, aligning with long-term balance sheet strategy.

## SEC filing metadata
- accession: 0001437749-23-026430
- form_type: 8-K
- ticker: NEXT
- cik: 0001612720
- company_name: NextDecade Corp
- filed_at: 2023-09-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1612720/000143774923026430/0001437749-23-026430-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1612720/000143774923026430/next20230918_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-026430
- JSON: https://secwatch.observer/filing/0001437749-23-026430.json
- Plain text: https://secwatch.observer/filing/0001437749-23-026430.txt

## Key facts
- Debt Financings
  NextDecade Corp incurred credit facility of $356 million with Wilmington Trust, National Association, as the administrative agent; Mizuho Bank (USA), as the P1 collateral agent; the senior lenders party thereto at 6.72% per annum maturing July 7, 2033.
  - Instrument: credit facility
  - Principal: $356 million
  - Counterparty: Wilmington Trust, National Association, as the administrative agent; Mizuho Bank (USA), as the P1 collateral agent; the senior lenders party thereto
  - Rate: 6.72% per annum
  - Maturity: July 7, 2033
  - Event: incurrence
  source text: On September 15, 2023, Rio Grande LNG, LLC, a Texas limited liability company (“ RGLNG ”) and an indirect subsidiary of NextDecade Corporation (“ NextDecade ” or the “ Company ”) entered into a Credit Agreement (the “ Credit Agreement ”) by and among RGLNG, as borrower, Wilmington Trust, National Association, as the administrative agent (in such capacity, the “ Administrative Agent ”), Mizuho Bank (USA), as the P1 collateral agent (the “ P1 Collateral Agent ”), and the senior lenders party thereto (the “ Senior Lenders ”). The Credit Agreement provides for a term loan facility (the “ Senior Loans ”) in an amount of $356 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1612720/000143774923026430/0001437749-23-026430-index.htm
- Material Agreements
  NextDecade Corp entered into Credit Agreement with Wilmington Trust, National Association, as the administrative agent, Mizuho Bank (USA), as the P1 collateral agent, and the senior lenders party thereto valued at $356 million (effective 2023-09-15).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wilmington Trust, National Association, as the administrative agent, Mizuho Bank (USA), as the P1 collateral agent, and the senior lenders party thereto
  - Value: $356 million
  - Effective: 2023-09-15
  source text: On September 15, 2023, Rio Grande LNG, LLC, a Texas limited liability company (“ RGLNG ”) and an indirect subsidiary of NextDecade Corporation (“ NextDecade ” or the “ Company ”) entered into a Credit Agreement (the “ Credit Agreement ”) by and among RGLNG, as borrower, Wilmington Trust, National Association, as the administrative agent (in such capacity, the “ Administrative Agent ”), Mizuho Bank (USA), as the P1 collateral agent (the “ P1 Collateral Agent ”), and the senior lenders party thereto (the “ Senior Lenders ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1612720/000143774923026430/0001437749-23-026430-index.htm

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