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NRG Energy, Inc. (NYSE:NRG) announced today the commencement of concurrent offerings of (1) senior secured first lien notes (the "Secured Notes Offering"), consisting of (i) senior secured first lien notes due 2030 (the "2030 Notes") and (ii) senior secured first lien notes due 2035 (the "2035 Notes" and, together with the 2030 Notes, the "Secured Notes") and (2) senior unsecured notes (the "Unsecured Notes Offering" and, together with the Secured Notes Offering, the "Offerings"), consisting of (i) senior notes due 2034 (the "2034 Notes") and (ii) senior notes due 2036 (the "2036 Notes" and, collectively with the 2034 Notes and the Secured Notes, the "Notes").
NRG intends to use a portion of the net proceeds from the Offerings to partially fund the cash portion of the purchase price of its previously announced acquisition (the "LSP Acquisition") of the issued and outstanding equity interests of Lightning Power, LLC, Linebacker Power Holdings, LLC, CSS Intermediate HoldCo, LLC and Jack County Power Development, LLC. In addition, NRG intends to use a portion of the net proceeds from the Secured Notes Offering to repay in full its $500 million aggregate principal amount of 2.000% senior secured first lien notes on the maturity date on December 2, 2025.
Posted In: NRG
