PRINCETON, N.J.--(BUSINESS WIRE)--Jul. 8, 2013--
NRG Energy, Inc. (NYSE: NRG), today announced that its wholly owned
subsidiary, NRG Yield, Inc. (“NRG Yield”), has commenced an initial
public offering of shares of its Class A common stock. NRG Yield is
offering 19,575,000 shares of its Class A common stock to the public. In
addition, the underwriters have a 30-day option to purchase up to an
additional 2,936,250 shares of the Class A common stock from NRG Yield
at the initial public offering price, less underwriting discounts and
commissions. The initial public offering price is currently expected to
be between $19.00 and $21.00 per share of Class A common stock.
Application has been made to list the Class A common stock of NRG Yield
on the New York Stock Exchange under the symbol "NYLD."
NRG Yield intends to use a portion of 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 a portion of such proceeds for general corporate purposes.
BofA Merrill Lynch, Goldman, Sachs & Co. and Citi are acting as joint
book runners. Barclays, KeyBanc Capital Markets, Mitsubishi UFJ
Securities, RBC Capital Markets, Credit Suisse and Deutsche Bank
Securities are acting as co-managers.
The offering of Class A common stock will be made only by means of a
prospectus. Copies of the preliminary 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 has been filed
with the Securities and Exchange Commission but has not yet become
effective. 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 Energy, Inc.
Media:
Karen Cleeve, 609-524-4608
David
Knox, 713-537-2130
or
Investors:
Chad Plotkin,
609-524-4526
Lori Stagliano, 609-524-4528