NRG Energy, Inc. Upsizes and Prices Senior Notes Offering
July 19 2016 - 5:25PM
Business Wire
NRG Energy, Inc. (NYSE:NRG) has priced its offering of $1,250
million in aggregate principal amount (an increase of $250 million
over the amount previously announced) of 6.625% senior notes due
2027 (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 January 15, 2027. The offering is
expected to close on August 2, 2016, subject to customary
conditions.
NRG intends to use the net proceeds from the offering, together
with cash on hand, to redeem all of its outstanding 8.25% senior
notes due 2020 (the “2020 Notes”) and a portion of its outstanding
7.875% senior notes due 2021 (the “2021 Notes”) in accordance with
their terms and to pay fees and expenses related to the offering of
the New Notes and incurred in connection with the redemption of the
2020 Notes and the 2021 Notes.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160719006661/en/
NRG Energy, Inc.Media:Karen Cleeve, 609-524-4608orMarijke
Shugrue, 609-524-5262orInvestors:Kevin L. Cole,
609-524-4526orLindsey Puchyr, 609-524-4527
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