09:22 AM EDT, 07/01/2024 (MT Newswires) -- NextDecade ( NEXT ) said Monday its Rio Grande LNG unit has issued about $1.12 billion of senior secured notes in a private placement.

These notes will pay interest at a fixed rate of 6.58%, the company said.

The notes, which will be amortized over an 18-year period starting in September 2029, have final maturity in September 2047.

Proceeds will be used to decrease debt and commitments under Rio Grande LNG's loans for phase 1 at the Rio Grande LNG facility.

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