NextDecade Corporation announced that its partially-owned subsidiary Rio Grande LNG has priced a $3.50 billion offering of senior secured notes across four tranches. The offering includes $1.0 billion of 5.250% notes due 2031 priced at 99.918% of par, $500.0 million of 5.500% notes due 2034 priced at 99.877% of par, $1.25 billion of 5.750% notes due 2036 priced at par, and $750.0 million of 6.150% notes due 2041 priced at par. Proceeds will be used to repay a portion of outstanding borrowings under existing credit agreements and to pay related fees and expenses. The notes will rank pari passu with Rio Grande LNG's existing term loan facilities, working capital facility, senior secured notes, and senior secured loans. The closing is expected on July 2, 2026, subject to customary conditions.
Nextdecade CorpSubsidiary priced $3.5B notes offering to repay debt, strengthening balance sheet.