Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for NRG Energy, Inc. > News item |
NRG Energy issues call for all remaining 7 3/8% notes due 2016
By Toni Weeks
San Diego, May 24 - NRG Energy, Inc. said it is calling for full redemption of any 7 3/8% senior notes due 2016 that remain after the company's tender offer for the notes expires, according to a press release.
NRG recorded early tenders and consents for $1,733,668,000, or 72.24%, of the $2.4 billion principal amount of notes as of 5 p.m. ET on May 23, the consent deadline. The company is soliciting consents to amend the notes to eliminate substantially all of the restrictive covenants and some events of default and related provisions.
Holders who tendered by the consent deadline received $1,039.38 for each $1,000 principal amount, including a $10.00 consent payment.
The tender offer will run until 11:59 p.m. ET on June 7 and is conditioned on the company raising at least $2 billion from its concurrent private placement of $2 billion of senior notes due 2019 and 2021.
The company will redeem the remaining securities on June 23 at a price of 103.688 plus accrued interest.
NRG is a Princeton, N.J.-based owner and operator of diverse power generation portfolios.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.