NRG Energy Prices, Increases Amount Of Senior Notes Offering - Quick Facts

(RTTNews) - NRG Energy, Inc. (NRG) said it has priced and increased the amount of its previously announced offering to $1,100 million in aggregate principal amount of 6.25% senior notes due 2022. The notes will be senior unsecured obligations of NRG and will be guaranteed by certain of its subsidiaries.

The company said the notes mature on July 15, 2022 and the offering is expected to close on January 27, 2014, subject to customary conditions.

NRG intends to use the proceeds from the offering to partially fund the consummation of the Edison Mission Energy or EME acquisition and to repurchase up to $400 million in aggregate principal amount of its 8.50% senior notes due 2019 and its 7.625% senior notes due 2019 and to pay fees and expenses incurred in connection with the repurchase of such notes.

If the EME acquisition is not consummated, NRG said it intends to use the proceeds from the offering to repay existing indebtedness and to pay related fees and expenses. All remaining amounts, if any, will be used for general corporate purposes.