secwatch.observer — SEC 8-K summary
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Issuer:     NextDecade Corp (NEXT)
CIK:        0001612720
Form:       8-K
Filed at:   2025-09-10T23:59:59+00:00
Accession:  0001628280-25-041869
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NextDecade reaches FID on Train 4, secures $3.847B construction loan and JV partners
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- FID for Train 4 of Rio Grande LNG; secured $3.847B T4 Credit Agreement for construction.
- FinCo Facility $734M (LC sublimit $621M) and Super FinCo $600M term loan at 13% fixed rate.
- JV: NextDecade holds 40% equity in Train 4 JVCo (up to 60% after return thresholds); TotalEnergies and GIP partners; $2.83B total equity.
- Remand Satisfaction Date expected on or before October 28, 2025, for FinCo Facility availability.
- RG4 paid ND LLC $98M for development cost reimbursement ($48M) and services fee ($50M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025041869/0001628280-25-041869-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612720/000162828025041869/next-20250909.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-041869

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