NRG Energy, Inc. Announces Redemption of Its Outstanding 7.625% Senior Notes Due 2018 & Its Outstanding 7.875% Senior Notes D...
September 14 2017 - 7:30AM
Business Wire
NRG Energy, Inc. (NYSE:NRG) today announced that it gave the
required notice under the respective governing indentures to redeem
for cash all of its outstanding 7.625% Senior Notes due 2018 (the
“2018 Notes”) and all of its outstanding 7.875% Senior Notes due
2021 (the “2021 Notes”) on October 16, 2017 (the “Redemption
Date”). The redemption price for the 2018 Notes will be an amount
equal to the principal amount of the 2018 Notes, plus the
applicable premium, which will be calculated two business days
prior to the Redemption Date in accordance with the 2018 Notes and
the governing indenture, plus accrued and unpaid interest to the
Redemption Date. The redemption price for the 2021 Notes will be
102.625% of the principal amount of the 2021 Notes, plus accrued
and unpaid interest to the Redemption Date.
This press release is for informational purposes only and is
not an offer to buy or the solicitation of an offer to sell any of
the 2018 Notes or the 2021 Notes.
“These bond redemptions totaling $600 million represent the
completion of our 2017 capital allocation to debt reduction, and
result in the elimination of our two nearest corporate bond
maturities,” said Kirk Andrews, Chief Financial Officer, NRG.
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: http://www.businesswire.com/news/home/20170914005333/en/
NRG Energy, Inc.Media:Sheri Woodruff, 609.524.4608orMarijke
Shugrue, 609.524.5262orInvestors:Kevin L. Cole,
609.524.4526orLindsey Puchyr, 609.524.4527
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