NextDecade Corporation (NASDAQ: NEXT) announced that its partially-owned subsidiary, Rio Grande LNG, LLC, has priced a $3.5 billion senior secured notes offering across four tranches.

The offering includes $1.0 billion in notes due 2031 at an interest rate of 5.250%, priced at 99.918% of par; $500.0 million in notes due 2034 at 5.500%, priced at 99.877% of par; $1.25 billion in notes due 2036 at 5.750%, priced at par; and $750.0 million in notes due 2041 at 6.150%, priced at par.

The closing of the offering is expected on July 2, 2026, subject to customary closing conditions.

Rio Grande LNG intends to use the net proceeds to repay a portion of outstanding borrowings under its existing credit agreements and to cover related fees and expenses. The notes will rank equally with Rio Grande LNG's existing term loan facilities, working capital facility, senior secured notes, and senior secured loans.

The notes have not been registered under the Securities Act and are being offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S.