NRG Lenders Agree to Reprice Its Term Loan B
March 21 2018 - 4:30PM
Business Wire
NRG Energy Inc. (NYSE:NRG) announces that it has repriced its
$1.872 billion Term Loan B due June 2023. The transaction is
leverage neutral and enhances free cash flow before growth via
annual cash interest savings.
The transaction will reduce the interest rate margin on the term
loan by 50 basis points to LIBOR +175 basis points and also reduce
the LIBOR floor to 0.00%.
As a result, the Company expects interest savings over the
remaining life of the loan to total approximately $47 million.
Expected annualized interest savings are estimated to be
approximately $9 million.
About NRG
NRG is the leading integrated power company in the U.S., built
on the strength of our diverse competitive electric generation
portfolio and leading retail electricity platform. A Fortune 500
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 implement sustainable
solutions for producing and managing energy, developing smarter
energy choices and delivering exceptional service as our retail
electricity providers serve almost three million residential and
commercial customers throughout the country. More information is
available at www.nrg.com. Connect with NRG Energy on Facebook and
follow us on Twitter @nrgenergy.
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.
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: https://www.businesswire.com/news/home/20180321006139/en/
NRG Energy Inc.Media:Sheri Woodruff,
609-524-4608orMarijke Shugrue, 609-524-5262orInvestors:Kevin
L. Cole, CFA, 609-524-4526orLindsey Puchyr, 609-524-4527
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