NextDecade LNG has entered into a credit agreement for $62.5m to support the development of Train 4 at the Rio Grande LNG facility in Brownsville, Texas.
The US-based LNG specialist confirmed that it signed an agreement with MUFG as a lender and administrative agent that provides for a $50m senior secured revolving credit facility and a $12.5m interest-term loan.
It has been agreed that the revolving credit facility capital can be used for general corporate purposes, including development costs related to Train 4 at the Rio Grande LNG facility. Borrowings under the interest loan will cover interest expenses, fees, and other expenses related to the revolving credit facility.
The front-end engineering and design (FEED) and engineering, procurement, and construction (EPC) contract processes with Bechtel Energy Inc. for Train 4 have already begun. It is hoped that the EPC contract will be finalised in the first half of 2024.
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