---
schema_version: "secwatch.filing_event.v1"
accession: "0001612720-25-000021"
form_type: "8-K"
ticker: "NEXT"
cik: "0001612720"
company_name: "NextDecade Corp"
filed_at: "2025-10-16T23:59:59+00:00"
generated_at: "2026-05-17T03:33:12.614815+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NextDecade closes $5.7B+ financing for Rio Grande LNG Train 5

## Summary
- RG5 secured $3.589B construction/term loan and $500M 6.56% senior secured notes due 2050.
- FinCo facility upsized to $1.463B to fund equity contributions for Trains 4 and 5.
- Super FinCo gets additional $600M Series B loan at 13% fixed, total SF loan $1.2B.
- FERC remand satisfaction expected on or around Oct 29, 2025, enabling FinCo facility availability.
- Train 5 JV agreement with GIP V Velocity Aggregator finalized.

## SEC filing metadata
- accession: 0001612720-25-000021
- form_type: 8-K
- ticker: NEXT
- cik: 0001612720
- company_name: NextDecade Corp
- filed_at: 2025-10-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1612720/000161272025000021/0001612720-25-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1612720/000161272025000021/next-20251013.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001612720-25-000021
- JSON: https://secwatch.observer/filing/0001612720-25-000021.json
- Plain text: https://secwatch.observer/filing/0001612720-25-000021.txt

## Key facts
- Debt Financings
  NextDecade Corp incurred credit facility of up to $3.589 billion with MUFG Bank, Ltd..
  - Instrument: credit facility
  - Principal: up to $3.589 billion
  - Counterparty: MUFG Bank, Ltd.
  - Event: incurrence
  source text: The T5 Credit Agreement provides for a construction/term loan facility (the “T5 Construction/Term Loans”) in an amount up to $3.589 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/1612720/000161272025000021/0001612720-25-000021-index.htm

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