Latham & Watkins Advises NextDecade in US$3.5 Billion Rio Grande LNG Senior Secured Notes Offering

NextDecade Corporation (NextDecade) (NASDAQ: NEXT) has announced that its partially owned subsidiary, Rio Grande LNG, LLC (RGLNG), has sized and priced its previously announced offering of senior secured notes (the Senior Secured Notes). RGLNG will issue US$1 billion senior secured notes due 2031, US$500 million senior secured notes due 2034, US$1.25 billion senior secured notes due 2036, and US$750 million senior secured notes due 2041. The 2031 notes were priced at 99.918% of par and bear an interest rate of 5.250%, the 2034 notes were priced at 99.877% of par and bear an interest rate of 5.500%, the 2036 notes were priced at par and bear an interest rate of 5.750%, and the 2041 notes were priced at par and bear an interest rate of 6.150%. The closing of the offering is expected to occur on July 2, 2026.

Latham & Watkins LLP represents NextDecade in the transaction with a Capital Markets team led by Austin partners David Miller and Samuel Rettew, Houston partner Ryan Maierson, and associate Isabelle Sawhney, with associates Zafreen Siddiquee and Harrison Little. Advice was also provided on project finance matters by New York partner Hamad Al‑Hoshan, with associates Yoon Lee and Sarah Foster; on project development matters by associates James Langlois and Brice Boyd; on tax matters by Houston partners Jared Grimley and Scott Cockerham, with associate Jacob Nagelberg; on environmental matters by San Diego partner Jennifer Roy, with associate Nolan Fargo; and on regulatory matters by Washington, D.C. partner Patrick Nevins.