SEC Filings

10-K
NRG ENERGY, INC. filed this Form 10-K on 02/29/2016
Entire Document
 
                

(b)
Total net debt reflects the reclassification of deferred financing costs to reduce long-term debt as further described in Note 2, Summary of Significant Accounting Policies.
Long-term debt includes the following premiums/(discounts):
 
 
As of December 31,
 
 
2015
 
2014
 
 
(in millions)
Term loan facility, due 2018 (a)
 
$
(3
)
 
$
(4
)
Peaker bonds, due 2019 (b)
 
(4
)
 
(6
)
Yield, Inc. Convertible notes, due 2019
 
(15
)
 
(19
)
Yield, Inc. Convertible notes, due 2020
 
(21
)
 

GenOn senior notes, due 2017 (c)
 
23

 
41

GenOn senior notes, due 2018 (c)
 
59

 
83

GenOn senior notes, due 2020 (c)
 
44

 
60

GenOn Americas Generation senior notes, due 2021 (c)
 
32

 
46

GenOn Americas Generation senior notes, due 2031 (c)
 
25

 
33

Total premium/(discount)
 
$
140

 
$
234

(a)
Discount of $1 million is related to current maturities in 2015 and 2014.
(b)
Discount of $2 million are related to current maturities in 2015 and 2014.    
(c)
Premiums for long-term debt acquired in the GenOn acquisition represent adjustments to record the debt at fair value in connection with the acquisition.
Consolidated Annual Maturities
Annual payments based on the maturities of NRG's debt and capital leases, for the years ending after December 31, 2015, are as follows:
 
(In millions)
2016
$
484

2017
1,153

2018
4,008

2019
1,052

2020
2,288

Thereafter
10,511

Total
$
19,496

NRG Recourse Debt
Senior Notes
2015 Senior Notes Repurchases
During the fourth quarter of 2015, the Company repurchased $246 million in aggregate principal of the following outstanding Senior Notes in the open market for $231 million, including accrued interest.
 
 
Principal Repurchased
 
Average Early Redemption Percentage
 
Gain/(Loss) on Debt Extinguishment
Amount in millions, except rates
 
 
 
 
 
 
 
 
 
 
 
 
 
8.25% Senior Note, due 2020
 
$
5

 
96.500
%
 
$

6.625% Senior Note, due 2023
 
54

 
85.972
%
 
7

6.25% Senior Note, due 2024
 
95

 
84.725
%
 
14

7.625% Senior Note, due 2018
 
92

 
102.232
%
 
(2
)
Total
 
$
246

 

 
$
19

Issuance of 2022 Senior Notes
On January 27, 2014, NRG issued $1.1 billion in aggregate principal amount at par of 6.25% senior notes due 2022. The notes are senior unsecured obligations of NRG and are guaranteed by certain of its subsidiaries. Interest is payable semi-annually beginning on July 15, 2014, until the maturity date of July 15, 2022. The proceeds were utilized to redeem the 8.5% and 7.625% 2019 Senior Notes, as described below, and to fund the acquisition of EME.

167