NextDecade (NEXT) Shrinks 18.6% After $6.7-Billion LNG Financing

We recently published 10 Stocks Melt Down in Hours. NextDecade Corp. (NASDAQ:NEXT) is one of the worst performers on Wednesday.

NextDecade dropped its share prices by 18.62 percent on Wednesday to end at $8.09 apiece as investors appeared to have priced in developments for Train 4 of its Rio Grande liquefied natural gas project.

In a statement, NextDecade Corp. (NASDAQ:NEXT) said it was able to raise $6.7 billion in fresh funds to finance the development of Train 4, alongside the continuous progress for Train 5.

“The global call for additional natural gas infrastructure continues to be strong, and we are well positioned to meet this growing demand for cleaner energy, with approximately 24 million tonnes per annum (MTPA) of expected LNG production capacity currently under construction, Train 5 nearing a positive FID, and significant additional expansion capacity under development at the Rio Grande LNG site,” said NextDecade Corp. (NASDAQ:NEXT) Chairman and CEO Matt Schatzman.

The Train 4 alone is expected to add 6 million tons per annum of LNG and bring the total capacity under construction at the Rio Grande LNG project to 24 million tons annually.

Of the total amount, some $3.85 billion of funds were raised from a term loan facility, another $1.13 billion from equity investments, and $1.7 billion from its partners.

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Disclosure: None. This article is originally published at Insider Monkey.