NRG, GenOn noteholders extend deadline for finalizing restructuring

By Marisa Wong

Morgantown, W.Va., June 5 – NRG Energy, Inc. extended its previously announced consent agreement with GenOn Energy, Inc., holders of more than 90% of GenOn’s outstanding senior unsecured notes and holders of over 90% of GenOn Americas Generation, LLC’s outstanding senior unsecured notes.

The consent agreement relates to a consensual restructuring of GenOn’s and GenOn Americas’ debt and a settlement of claims against NRG.

The parties are still negotiating and finalizing a restructuring support agreement, according to an 8-K filed Monday with the Securities and Exchange Commission.

The parties have agreed to further extend the term of the consent agreement, this time to 11:59 p.m. ET on June 6, to facilitate discussions. The consent agreement was previously extended to 11:59 p.m. ET on June 2 and, before that, to 11:59 p.m. ET on May 31.

The consent agreement entered into on May 22 originally covered holders of about 60.6% of GenOn’s notes and holders of more than two-thirds of GenOn Americas’ notes. GenOn announced the increased participation in an 8-K filed on May 26.

NRG Energy is a Princeton, N.J.-based wholesale power-generation company.

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