NextDecade announces bank commitments from syndicate of lenders

NextDecade “announced that Rio Grande LNG has received binding commitments from a syndicate of lenders in an amount sufficient, together with expected project equity funding, to support a positive final investment decision of the first three liquefaction trains at the Rio Grande LNG export facility in Brownsville, Texas. The lender group includes the world’s leading Asian, European, Middle Eastern and North American project finance banks. NextDecade has sold 16.2 million tonnes per annum of LNG from Phase 1, or 92% of nameplate capacity, under long-term sale and purchase agreements, sufficient to support the binding debt commitments from these leading lenders and the near-term FID of the 17.61 MTPA Phase 1. Due in part to the observance of various holidays around the world, including the July 4th holiday, NextDecade is now targeting FID on Phase 1 in early July with FIDs of its remaining trains to follow thereafter.”