NextDecade’s Rio Grande secures $251 million term loan facility

By Devika Patel

Knoxville, Tenn., Jan. 3 – NextDecade Corp. subsidiary Rio Grande LNG, LLC entered into a credit agreement with agent Wilmington Trust, NA, and a group of lenders for a $251 million term loan facility on Dec. 28, according to an 8-K filing with the Securities and Exchange Commission.

The company drew the full $251 million on Dec. 28.

The loans will be amortized over approximately 18 years beginning in mid-2029, with a final maturity in September 2047.

Interest will accrue at 7.11% per year, payable semiannually.

The loan may be prepaid at any time prior to June 30, 2047 at par plus a make-whole premium.

On or after June 30, 2047, the loan may be prepaid at par.

Proceeds will be used to finance a portion of Rio Grande LNG Trains 1, 2 and 3 and related common facilities and to pay certain fees and expenses.

NextDecade is an energy company working on more sustainable LNG and carbon capture solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.