NextDecade Subsidiary Plans to Issue Senior Secured Notes
NextDecade Corporation announced that its partially-owned subsidiary, Rio Grande LNG, intends to offer and sell, subject to market and other conditions, senior secured notes, in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended and to non-US persons outside the United States only in compliance with Regulation S under the Securities Act. RGLNG intends to use the net proceeds from any offering of Senior Secured Notes to repay a portion of the outstanding borrowings under its existing credit agreements, to pay related fees and expenses thereto and pay or reserve for payment of interest rate hedge termination payments, as applicable. The Senior Secured Notes would rank pari passu to RGLNG's existing term loan facilities, working capital facility, senior secured notes, and senior secured loans.
