GenOn to price $1.4 billion senior notes in two tranches on Friday

By Paul A. Harris

St. Louis, Sept. 13 - GenOn Energy Inc. plans to hold a roadshow for its $1.4 billion two-part offering of senior notes through the remainder of the present week and to price the deal on Friday, market sources say.

The offering is broken into tranches of eight-year and 10-year notes, with tranche sizes to be determined.

J.P. Morgan Securities Inc., Credit Suisse Securities, Deutsche Bank Securities Inc., Goldman Sachs & Co. and Morgan Stanley & Co. Inc. are managing the sale.

Proceeds will be used to refinance debt at Mirant Corp. and at RRI Energy Inc. in connection with the merger of Mirant and RRI into GenOn.

The surviving entity, GenOn, will be a Houston-based power producer.

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