NRG Energy Withdraws Private Placement of Notes Due 2028 for USD870 Million

Published: Nov 09 2017
Deal Summary

NRG Energy, Inc., a power generation and distribution company, has withdrawn its private placement of senior notes due 2028, for gross proceeds of USD870 million, in response to broader market conditions. The placement was supposed to be subscribed to by qualified institutional buyers.

The notes were senior unsecured obligations of NRG Energy and were supposed to be guaranteed by certain of its subsidiaries.

Earlier, the company agreed to issue senior notes due 2028, for gross proceeds of USD870 million, in a private placement.

The company intended to use the proceeds to repurchase any and all of the approximately USD869.2 million outstanding aggregate principal amount of its 6.625% senior notes due 2023 and to pay fees and expenses related to the offering of the notes and incurred in connection with the repurchase of the 2023 notes.

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