Any and All Outstanding Convertible Senior Notes due 2048
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) announced that it issued a notice of redemption for any and all of its outstanding 2.75% Convertible Senior Notes due 2048 (the 'Notes'). NRG has elected to redeem all of the Notes outstanding on the Redemption Date (as defined below) pursuant to Section 4.04 of the indenture, dated as of May 24, 2018 (as amended, the 'Indenture'), by and among NRG, as issuer, the guarantors party thereto, and CSC Delaware Trust Company (formerly known as Delaware Trust Company), as trustee and Section 9 of the Notes.
The redemption date is July 8, 2025 (the 'Redemption Date'). The redemption price (the 'Redemption Price') will equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest from June 1, 2025 up to but excluding the Redemption Date.
The Notes called for redemption may be converted at any time before 5:00 p.m., New York City time, on July 7, 2025 (the 'Conversion Deadline') (or, if NRG fails to pay the Redemption Price due on the Redemption Date in full, at any time until such time as NRG pays such Redemption Price in full). The settlement method that will apply to all conversions of Notes with a Conversion Date that occurs on or after the date of this press release and before the Redemption Date is Combination Settlement (as defined in the Indenture). The conversion rate in effect as of the date of this press release is: 24.6144 shares of common stock per $1,000 principal amount of Notes.
The Notes called for redemption must be delivered to the paying agent (in the case of physical notes) or in compliance with the rules and procedures of DTC (in the case of global notes) to collect the Redemption Price. The name and address of the paying agent and the conversion agent to surrender the Notes is: CSC Delaware Trust Company, 251 Little Falls Drive, Wilmington, DE 19808-1674. The CUSIP number of the Notes is 629377 CG5.
About NRG
NRG Energy, Inc. is leading the future of energy—now. Our solutions power a smarter, brighter future by helping customers achieve today's goals while solving for the challenges of tomorrow. Every day, we deliver innovative natural gas, electricity, and smart home solutions to customers large and small across North America.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as 'expect,' 'estimate,' 'should,' 'anticipate,' 'forecast,' 'plan,' 'guidance,' 'outlook,' 'believe' and similar terms. Although NRG believes that the expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release 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.
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