NextDecade Subsidiary Rio Grande LNG Announces Issuance Of $1.115B Senior Secured Notes Due 2047
Portfolio Pulse from Benzinga Newsdesk
NextDecade Corporation's subsidiary, Rio Grande LNG, has issued $1.115 billion in senior secured notes at a fixed interest rate of 6.58%. The proceeds will be used to reduce outstanding borrowings and commitments under existing term loan facilities for Phase 1 at the Rio Grande LNG Facility.
July 01, 2024 | 12:06 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
NextDecade Corporation's subsidiary, Rio Grande LNG, has issued $1.115 billion in senior secured notes at a fixed interest rate of 6.58%. The proceeds will be used to reduce outstanding borrowings and commitments under existing term loan facilities for Phase 1 at the Rio Grande LNG Facility.
The issuance of $1.115 billion in senior secured notes will help NextDecade's subsidiary, Rio Grande LNG, reduce its outstanding borrowings and commitments. This financial maneuver is likely to improve the company's balance sheet and reduce interest expenses, which is positive for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100