PRINCETON, N.J.--(BUSINESS WIRE)--Jul. 22, 2013--
NRG Energy, Inc. (NYSE: NRG) and NRG Yield, Inc. (“NRG Yield”), today
announced that NRG Yield, a subsidiary of NRG Energy, Inc., has closed
its previously announced initial public offering of 19,575,000 shares of
its Class A common stock at a price of $22.00 per share. In connection
with the initial public offering, the underwriters exercised in full
their option to purchase an additional 2,936,250 shares of Class A
common stock from NRG Yield. As a result, the total initial public
offering size was 22,511,250 shares. NRG Yield is listed on the New York
Stock Exchange under the ticker “NYLD.”
NRG Yield received proceeds, net of underwriting discounts and
commissions, of approximately $468 million from the offering. NRG Yield
intends to use the net proceeds of this offering to purchase a portion
of the equity interests in NRG Yield LLC, which holds the NRG Yield
assets, from NRG Energy, Inc.NRG Yield LLC intends to use the proceeds
received for general corporate purposes.
Concurrent with the closing of the initial public offering, NRG Yield
Operating LLC, an indirect subsidiary of NRG Yield, entered into a $60
million revolving credit facility, which has not been drawn.
BofA Merrill Lynch, Goldman, Sachs & Co. and Citigroup acted as joint
book runners for the initial public offering. Barclays, KeyBanc Capital
Markets, Mitsubishi UFJ Securities, RBC Capital Markets, Credit Suisseand Deutsche Bank Securities acted as co-managers.
The offering of Class A common stock was made only by means of a final
prospectus. Copies of the final prospectus related to the offering may
be obtained from BofA Merrill Lynch at 222 Broadway, New York, NY 10038,
Attn: Prospectus Department or by emailing dg.prospectus_requests@baml.com;
Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York,
NY 10282 or by emailing prospectus-ny@ny.email.gs.com;
or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717, email batprospectusdept@citi.com,
telephone 1-800-831-9146.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on July 16, 2013.
The registration statement can be accessed through the Commission’s
website at www.sec.gov.
These securities may not be sold nor may offers to buy be accepted prior
to the time the registration statement becomes effective. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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.
Source: NRG Energy, Inc.
NRG
Media:
Karen Cleeve, 609-524-4608
Karen.cleeve@nrgenergy.com
or
David
Knox, 713-537-2130
David.knox@nrgenergy.com
or
Investors:
Chad
Plotkin, 609-524-4526
chad.plotkin@nrgenergy.com