NRG Energy, Inc. Announces Redemption of $500 Million of Its 6.625% Senior Notes Due 2027

Rhea-AI Summary

NRG Energy, Inc. (NYSE: NRG) has announced its decision to optionally redeem $500 million of its outstanding 6.625% Senior Notes due 2027 on October 6, 2021. The redemption will be financed through liquidity facilities, contingent on having sufficient availability under these facilities. The redemption price is set at 103.313% of the principal amount, in addition to accrued interest. A notice of redemption will be sent to registered holders of the Notes by Delaware Trust Company. This announcement does not constitute an offer to sell or purchase any security.

Positive

• Intent to redeem $500 million of Senior Notes indicates strong liquidity management.
• Redemption price at 103.313% plus accrued interest may enhance shareholder value.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- NRG Energy, Inc. (NYSE:NRG) announces that it gave the required notice under the indenture governing the notes to optionally redeem $500 million in aggregate principal amount of its outstanding 6.625% Senior Notes due 2027 (the “Notes”) on October 6, 2021 (the “Redemption Date”). NRG intends to finance the redemption and associated costs with proceeds from its liquidity facilities. The optional redemption is conditioned upon NRG having sufficient availability under its liquidity facilities to complete such redemption on the Redemption Date. The redemption price will be 103.313% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on such Notes to the Redemption Date.

A notice of conditional redemption is being sent to all currently registered holders of the Notes by the Trustee, Delaware Trust Company. This press release does not constitute an offer to sell any security, including the Notes, nor a solicitation for an offer to purchase any security, including the Notes.

About NRG

At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future.

Forward-Looking Statements

This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially.

The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210922005468/en/

Investors:

Kevin L. Cole, CFA

609.524.4526

investor.relations@nrg.com

Media:

Candice Adams

609.524.5428

candice.adams@nrg.com

Source: NRG Energy, Inc.

FAQ

What is NRG Energy planning regarding its Senior Notes?

NRG Energy plans to optionally redeem $500 million of its 6.625% Senior Notes due 2027 on October 6, 2021.

How will NRG finance the redemption of its Senior Notes?

NRG intends to finance the redemption through its liquidity facilities.

What is the redemption price for NRG's Senior Notes?

The redemption price is set at 103.313% of the principal amount, plus accrued interest.

Who will receive the notice of the conditional redemption from NRG?

The notice will be sent to all currently registered holders of the Notes by Delaware Trust Company.