NRG Energy Announces Proposed Offering of Senior Notes, Cash Tender Offer For Notes Due 2024
May 07,2019
NRG Energy, Inc. said that it intends to commence an offering of $733.0 million in aggregate principal amount of senior notes due 2029 (the “New Notes”). The New Notes will be senior unsecured obligations of NRG and will be guaranteed by certain of its subsidiaries.
Separately, NRG announced that it has commenced a cash tender offer to purchase any and all of the approximately $733.6 million outstanding aggregate principal amount of its 6.25% senior notes due 2024 (the “2024 Notes”) with the net proceeds from NRG’s concurrent private placement of $733.0 million in aggregate principal amount of senior notes due 2029 (the “New Notes”), as noted above, as well as with cash on hand. The tender offer is being made pursuant to an offer to purchase, related letter of transmittal and notice of guaranteed delivery, each dated as of May 7, 2019. The tender offer will expire at 5:00 p.m., New York City time, on May 13, 2019 (as such time and date may be extended, the “expiration time”). Tendered 2024 Notes may be withdrawn at any time before the expiration time.