---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-000291"
form_type: "8-K"
ticker: "NEXT"
cik: "0001612720"
company_name: "NextDecade Corp"
filed_at: "2024-01-03T23:59:59+00:00"
generated_at: "2026-06-07T04:41:40.295391+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NextDecade subsidiary closes $251M senior secured loan for Rio Grande LNG Phase 1

## Summary
- Rio Grande LNG subsidiary borrowed $251M under Credit Agreement on Dec 28, 2023.
- Loan amortizes over ~18 years from mid-2029, matures Sept 2047; interest rate 7.11% p.a.
- Financing reduces outstanding commitments under Phase 1 term loan facilities from ~$10.8B to ~$10.5B.
- Proceeds to fund a portion of Rio Grande LNG Trains 1-3 and related common facilities.
- Senior secured debt ranks pari passu with existing senior secured debt under Common Terms Agreement.

## SEC filing metadata
- accession: 0001437749-24-000291
- form_type: 8-K
- ticker: NEXT
- cik: 0001612720
- company_name: NextDecade Corp
- filed_at: 2024-01-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1612720/000143774924000291/0001437749-24-000291-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1612720/000143774924000291/next20240102_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-000291
- JSON: https://secwatch.observer/filing/0001437749-24-000291.json
- Plain text: https://secwatch.observer/filing/0001437749-24-000291.txt

## Key facts
- Debt Financings
  NextDecade Corp incurred term loan of $251 million with Wilmington Trust, National Association, as the administrative agent; Mizuho Bank (USA), as the P1 collateral agent; and the senior lenders party thereto at 7.11% per annum maturing September 2047.
  - Instrument: term loan
  - Principal: $251 million
  - Counterparty: Wilmington Trust, National Association, as the administrative agent; Mizuho Bank (USA), as the P1 collateral agent; and the senior lenders party thereto
  - Rate: 7.11% per annum
  - Maturity: September 2047
  - Event: incurrence
  source text: 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 $251 million to finance a portion of Rio Grande LNG Trains 1, 2 and 3 and related common facilities (“ Phase 1 ”) and to pay certain fees and expenses associated with the Credit Agreement and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1612720/000143774924000291/0001437749-24-000291-index.htm
- Material Agreements
  NextDecade Corp entered into Credit Agreement with Wilmington Trust, National Association, as administrative agent, Mizuho Bank (USA), as P1 collateral agent, and the senior lenders party thereto valued at $251 million (effective 2023-12-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wilmington Trust, National Association, as administrative agent, Mizuho Bank (USA), as P1 collateral agent, and the senior lenders party thereto
  - Value: $251 million
  - Effective: 2023-12-28
  source text: On December 28, 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/1612720/000143774924000291/0001437749-24-000291-index.htm

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