NextDecade secure $356mn loan to support Rio Grande LNG

US LNG developer NextDecade said September 20 it had secured $356mn of senior loans from a group of lenders to finance a portion of Phase 1 of its Rio Grande LNG export facility in Brownsville, Texas.

NextDecade did not identify the lenders.

The senior loans were disbursed in full on September 15, effectively reducing the commitments under existing term loan facilities for Phase 1 of Rio Grande LNG to $10.8bn from $11.1bn. Phase 1 includes the first three trains of the planned five-train, 27mn tonnes/year liquefaction facility.

NextDecade sanctioned the $18.4bn first phase in July, completing what it said was the largest greenfield energy project financing in US history.