NRG Energy, Inc. Prices Sustainability-Linked Senior Notes Offering

Source: www.gulfoilandgas.com 8/9/2021, Location: North America

NRG Energy, Inc. has priced its offering of $1.1 billion in aggregate principal amount of 3.875% senior notes due 2032 (the “New Notes”). The New Notes will be senior unsecured obligations of NRG and will be guaranteed by each of NRG’s current and future subsidiaries that guarantee indebtedness under NRG’s credit agreement. The New Notes are being issued under NRG’s Sustainability-Linked Bond Framework, which sets out certain sustainability targets, including reducing greenhouse gas emissions.

The New Notes mature on February 15, 2032. The offering is expected to close on August 23, 2021, subject to customary closing conditions. Failure to meet the sustainability targets with respect to the New Notes will result in a 25 basis point increase to the interest rate payable on the New Notes from and including August 15, 2026.

NRG intends to use the net proceeds from the offering, together with cash on hand and borrowings under one or more of its liquidity facilities, to repurchase, pursuant to NRG’s concurrent exercise of its optional redemption rights, (i) all of the $1.0 billion outstanding aggregate principal amount of its 7.25% senior notes due 2026 (the “2026 Notes”) and (ii) $355 million of the $1.23 billion outstanding aggregate principal amount of its 6.625% senior notes due 2027 (the “2027 Notes”), and to pay fees and expenses incurred in connection with the repurchase of the 2026 Notes and 2027 Notes.

The New Notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. The New Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell any security, including the New Notes, nor a solicitation for an offer to purchase any security, including the New Notes, the 2026 Notes or the 2027 Notes.


Netherlands/Holland >>  7/1/2022 - Royal Boskalis Westminster N.V. (Boskalis) has taken note of the press release issued by HAL Holding N.V. (HAL) on 24 June 2022 in which it formally a...
Nigeria >>  7/1/2022 - Further to the Company's announcement on 3 May 2022, San Leon, the independent oil and gas production, development and exploration company focused on ...

Norway >>  7/1/2022 - Reference is made to the stock exchange announcement made by PGS ASA (“PGS” or the “Company”) on 29 June 2022 regarding a subsequent offering (the “Su...
United Kingdom >>  7/1/2022 - Tower Resources plc, the AIM listed oil and gas company with its focus on Africa , announces the following issue of warrants to Directors and a consul...

United Kingdom >>  7/1/2022 - In accordance with the Disclosure Guidance and Transparency Rules ('the Rules'), we notify the market of the following:
As at 30 June 2022 the i...

Bermuda >>  6/30/2022 - Borr Drilling Limited refers to its previous communication regarding its ongoing negotiations with creditors to reach mutual agreements to refinance a...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.