NRG Energy, Inc. Upsizes and Prices Senior Notes Offering
May 09 2016 - 4:15PM
Business Wire
NRG Energy, Inc. (NYSE: NRG) has priced its offering of $1,000
million in aggregate principal amount (an increase of $300 million
over the amount previously announced) of 7.25% senior notes due
2026 (the “New Notes”). The New Notes will be senior unsecured
obligations of NRG and will be guaranteed by certain of its
subsidiaries.
The New Notes mature on May 15, 2026. The offering is expected
to close on May 23, 2016, subject to customary conditions.
NRG intends to use the net proceeds from the offering, together
with cash on hand, to repurchase an aggregate principal amount of
its outstanding existing senior notes as would result in an
aggregate payment amount for such notes of up to $1,000 million,
and to pay fees and expenses related to the offering of the New
Notes and incurred in connection with the repurchase of its
outstanding existing senior notes. Any amounts remaining after such
repurchase will be used for general corporate purposes, which may
include additional retirement of indebtedness.
The New Notes and related guarantees are being offered only to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”) or,
outside the United States, to persons other than “U.S. persons” in
compliance with Regulation S under the Securities Act. The notes
and related guarantees have not been registered under the
Securities Act or the securities laws of any other jurisdiction and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements. This
notice is issued pursuant to Rule 135c of the Securities Act, and
does not constitute an offer to sell the notes, nor a solicitation
for an offer to purchase the notes.
About NRG
NRG is the leading integrated power company in the U.S., built
on the strength of the nation’s largest and most diverse
competitive electric generation portfolio and leading retail
electricity platform. A Fortune 200 company, NRG creates value
through best in class operations, reliable and efficient electric
generation, and a retail platform serving residential and
commercial businesses. Working with electricity customers, large
and small, we continually innovate, embrace and implement
sustainable solutions for producing and managing energy. We aim to
be pioneers in developing smarter energy choices and delivering
exceptional service as our retail electricity providers serve
almost 3 million residential and commercial customers throughout
the country.
Forward-Looking Statements
This communication contains forward-looking statements that may
state NRG’s or its management’s intentions, beliefs, expectations
or predictions for the future. Such forward-looking statements are
subject to certain risks, uncertainties and assumptions, and
typically can be identified by the use of words such as “will,”
“expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe”
and similar terms. Although NRG believes that its expectations are
reasonable, it can give no assurance that these expectations will
prove to have been correct, and actual results may vary materially.
Factors that could cause actual results to differ materially from
those contemplated above include, among others, risks and
uncertainties related to the capital markets generally and whether
NRG will offer the New Notes or consummate the offering, the
anticipated terms of the New Notes and the anticipated use of
proceeds.
The foregoing review of factors that could cause NRG’s actual
results to differ materially from those contemplated in the
forward-looking statements included herein should be considered in
connection with information regarding risks and uncertainties that
may affect NRG’s future results included in NRG’s filings with the
SEC at www.sec.gov.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160509006582/en/
NRG Energy, Inc.Media:Karen Cleeve, 609-524-4608Marijke Shugrue
, 609-524-5262orInvestors:Kevin Cole, 609-524-4526Lindsey Puchyr,
609-524-4527
NRG Energy (NYSE:NRG)
Historical Stock Chart
From Aug 2024 to Sep 2024
NRG Energy (NYSE:NRG)
Historical Stock Chart
From Sep 2023 to Sep 2024