NRG Energy, Inc. Announces Redemption of Its Outstanding 7.625% Senior Notes Due 2018 and Its Outstanding 7.875% Senior Notes Due 2021
PRINCETON, N.J.--(BUSINESS WIRE)--Sep. 14, 2017--
NRG Energy, Inc. (NYSE:NRG) today announced that it gave the required
notice under the respective governing indentures to redeem for cash all
of its outstanding 7.625% Senior Notes due 2018 (the “2018 Notes”) and
all of its outstanding 7.875% Senior Notes due 2021 (the “2021 Notes”)
on October 16, 2017 (the “Redemption Date”). The redemption price for
the 2018 Notes will be an amount equal to the principal amount of the
2018 Notes, plus the applicable premium, which will be calculated two
business days prior to the Redemption Date in accordance with the 2018
Notes and the governing indenture, plus accrued and unpaid interest to
the Redemption Date. The redemption price for the 2021 Notes will be
102.625% of the principal amount of the 2021 Notes, plus accrued and
unpaid interest to the Redemption Date.
This press release is for informational purposes only and is not an
offer to buy or the solicitation of an offer to sell any of the 2018
Notes or the 2021 Notes.
“These bond redemptions totaling $600 million represent the completion
of our 2017 capital allocation to debt reduction, and result in the
elimination of our two nearest corporate bond maturities,” said Kirk
Andrews, Chief Financial Officer, NRG.
NRG is the leading integrated power company in the U.S., built on the
strength of our diverse competitive electric generation portfolio and
leading retail electricity platform. A Fortune 500 company, NRG creates
value through best in class operations, reliable and efficient electric
generation, and a retail platform serving residential and commercial
businesses. Working with electricity customers, large and small, we
implement sustainable solutions for producing and managing energy,
developing smarter energy choices and delivering exceptional service as
our retail electricity providers serve almost three million residential
and commercial customers throughout the country. More information is
available at www.nrg.com.
Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
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
The foregoing review of factors that could cause NRG’s actual results to
differ materially from those contemplated in the forward-looking
statements included herein should be considered in connection with
information regarding risks and uncertainties that may affect NRG’s
future results included in NRG’s filings with the SEC at www.sec.gov.
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Source: NRG Energy, Inc.
NRG Energy, Inc.
Sheri Woodruff, 609.524.4608
Kevin L. Cole,
Lindsey Puchyr, 609.524.4527