NextDecade Corp (NEXT): debt financing — NextDecade subsidiary RGLNG issues $190M in 6.85% Senior Secured Notes due 2047

NextDecade Corp

RGLNG issued $190M aggregate principal of 6.85% Senior Secured Notes due 2047 on Feb 9, 2024.
Notes amortize over ~18 years starting mid-2029; interest payable semi-annually from June 30, 2024.
Issuance reduces RGLNG's Phase 1 term loan commitments from ~$10.5B to ~$10.3B.
Notes are senior secured, rank pari passu with other senior secured debt under Common Terms Agreement.
Covenants include debt service coverage ratio of at least 1.10:1.00 and limits on additional debt.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NextDecade Corp incurred senior notes of $190 million aggregate principal amount with Wilmington Trust, National Association, as Trustee at 6.85% per annum maturing June 2047.

Instrument: senior notes
Principal: $190 million aggregate principal amount
Counterparty: Wilmington Trust, National Association, as Trustee
Rate: 6.85% per annum
Maturity: June 2047
Event: incurrence

Exact text from the filing

issued and sold $190 million aggregate principal amount of 6.85% Senior Secured Notes due 2047

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NextDecade Corp entered into Indenture with Wilmington Trust, National Association valued at $190 million aggregate principal amount of 6.85% Senior Secured Notes due 2047 (effective 2024-02-09).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $190 million aggregate principal amount of 6.85% Senior Secured Notes due 2047
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024, Rio Grande LNG, LLC, a Texas limited liability company (“ RGLNG ”) and an indirect subsidiary of NextDecade Corporation (“ NextDecade ” or the “ Company ”), issued and sold $190 million aggregate principal amount of 6.85% Senior Secured Notes due 2047 (the “ Notes ”) pursuant to an indenture, dated as of such date, between RGLNG and Wilmington Trust, National Association, as Trustee (the “ Indenture ”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

NextDecade Corp filing history →

Source: SEC EDGAR

accession 0001437749-24-003758

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