On October 16, 2024, NRG Energy, Inc. priced an upsized offering of $1.875 billion in aggregate principal amount of senior unsecured notes, consisting of $925 million of 6.00% notes due 2033 and $950 million of 6.25% notes due 2034.
The aggregate principal amount of this offering was increased from the previously announced $1.5 billion, reflecting strong investor interest. The offering is expected to close on October 30, 2024, subject to customary closing conditions.
Net proceeds from this offering, combined with a new $450 million term loan B and cash on hand, are intended to fund a tender offer for APX Group's 6.75% Senior Secured Notes due 2027, repay approximately $1.3 billion in APX secured term loans, and redeem $375 million of NRG's outstanding 6.625% Senior Notes due 2027.
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