NextDecade announces credit agreement
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
Borrowings under the revolving credit facility may be utilised for general corporate purposes, including development costs related to Train 4 at the Rio Grande LNG facility. Borrowings under the interest term loan may be utilised to pay interest expense, fees, and other expenses related to the revolving credit facility. Borrowings under the revolving credit facility and interest term loan will bear interest at SOFR or the base rate plus an applicable margin as defined in the credit agreement.
The revolving credit facility and the interest term loan mature at the earlier of two years from the closing date or 10 business days after a positive Final Investment Decision (FID) on Train 4 at the Rio Grande LNG facility. NextDecade expects the revolving credit facility to provide meaningful liquidity and capital resources as the Company progresses toward a positive FID of Train 4.
NextDecade has started the front-end engineering and design (FEED) and EPC contract processes with Bechtel Energy Inc. for Train 4 and expects to finalise the EPC contract in 1H24. The company is progressing numerous discussions with potential buyers of LNG to provide commercial support for Train 4 and is targeting a positive FID of Train 4 in 2H24.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/05012024/nextdecade-announces-credit-agreement/
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