NRG Energy, Inc. Announces Expiration and Results of Tender Offer for Its Outstanding 6.25% Senior Notes Due 2024
May 13 2019 - 9:36PM
Business Wire
NRG Energy, Inc. (NYSE:NRG) today announced the expiration and
results of its previously announced cash tender offer (the “Tender
Offer”) to purchase any and all of its outstanding 6.25% senior
notes due 2024 (the “2024 Notes”).
The Tender Offer expired at 5:00 p.m., New York City time, on
May 13, 2019 (the “Expiration Time”). As of the Expiration Time, an
aggregate principal amount of $593,451,000, or 80.9%, of the 2024
Notes were validly tendered and not validly withdrawn, which amount
excludes $398,000 aggregate principal amount of the Notes that
remain subject to guaranteed delivery procedures. NRG expects to
accept for payment all such 2024 Notes validly tendered and not
validly withdrawn in the Tender Offer as of the Expiration Time and
expects to make payment for such 2024 Notes on May 14, 2019,
subject to NRG’s successful completion of its previously announced
financing transaction that is also expected to close on May 14,
2019 (the “Financing Condition”). NRG also expects to accept for
payment all 2024 Notes that remain subject to guaranteed delivery
procedures and to make payment for such 2024 Notes on May 16,
2019. Concurrently with the launch of the tender offer, NRG
exercised its right to optionally redeem any 2024 Notes not validly
tendered and purchased in the tender offer, pursuant to the terms
of the indenture governing the 2024 Notes, conditioned upon and
subject to satisfaction of the Financing Condition.
Requests for documents relating to the tender offer may be
directed to D.F. King & Co., Inc., the Information Agent, at
(800) 755-3105 (Toll-Free) or (212) 269-5550, by email at
nrg@dfking.com, or via the following web address:
www.dfking.com/nrg. J.P. Morgan Securities LLC, Credit Agricole
Securities (USA) Inc. and MUFG Securities Americas Inc. acted as
Joint Dealer Managers for the tender offer. Questions regarding the
tender offer may be directed to the Joint Dealer Managers at the
telephone numbers shown below:
J.P. Morgan Securities LLCTel (toll-free): (866) 834-4666Tel
(collect): (212) 834-3424
Credit Agricole Securities (USA) Inc.Tel (toll-free): (866)
807-6030Tel (collect): (212) 261-7802
MUFG Securities Americas Inc.Tel (toll-free): (877) 744-4532Tel
(collect): (212) 405-7481
This press release does not constitute a notice of redemption
under the optional redemption provisions of the indenture governing
the 2024 Notes, nor does it constitute an offer to sell, or a
solicitation of an offer to buy, any security, nor does it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.
About NRG
At NRG, we’re redefining power by putting customers at the
center of everything we do. We create value by generating
electricity and serving nearly 3 million residential and commercial
customers through our portfolio of retail electricity brands. A
Fortune 500 company, NRG delivers customer-focused solutions for
managing electricity, while enhancing energy choice and working
towards a sustainable energy future.
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/20190513005923/en/
Media:Candice Adams609.524.5428
Investors:Kevin L. Cole, CFA609.524.4526
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