Vistra Corp

NYSE:VSTUnited States

Nov 19, 2024

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• Vistra Prices $1.25 Billion Offering of Senior Secured Notes, from 5:38PM ET on Tuesday Nov 19, 2024 by MT Newswires

  5:38PM ET on Tuesday Nov 19, 2024 by MT Newswires
  Companies Mentioned: VST
  05:38 PM EST, 11/19/2024 (MT Newswires) -- Vistra (VST) said Tuesday that it has priced a $1.25 billion offering of senior secured notes. The offering consisted of $500 million of senior secured notes due 2026 at 99.948% of their face value and $750...

• Vistra Prices Private Offering of $1.25 Billion of Senior Secured Notes, from 5:23PM ET on Tuesday Nov 19, 2024 by PR Newswire

  5:23PM ET on Tuesday Nov 19, 2024 by PR Newswire
  Companies Mentioned: VST

  Vistra Corp. (NYSE: VST) (the "Company" or "Vistra") announced today the pricing of a private offering (the "Offering") of $1.25 billion aggregate principal amount of senior secured notes, consisting of $500 million aggregate principal amount of senior secured notes due 2026at a price to the public of 99.948% of their face value (the "2026 Notes") and $750million aggregate principal amount of senior secured notes due 2034 at a price to the public of 99.903% of their face value (the "2034 Notes" and, together with the 2026 Notes, the "Notes"), to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be senior, secured obligations of Vistra Operations Company LLC, a Delaware limited liability company and an indirect wholly owned subsidiary of the Company (the "Issuer"). The 2026 Notes will bear interest at the rate of 5.050% per annum, and the 2034 Notes will bear interest at the rate of 5.700% per annum. The Notes will be fully and unconditionally guaranteed by certain of the Issuer's current and future subsidiaries that also guarantee the Issuer's Credit Agreement, dated as of October 3, 2016 (as amended, the "Credit Agreement"), by and among the Issuer, as borrower, Vistra Intermediate Company LLC, as parent guarantor, the other guarantors party thereto, Citibank, N.A., as administrative and collateral agent, various lenders and letter of credit issuers party thereto, and the other parties named therein. The Notes will be secured by a first-priority security interest in the same collateral that is pledged for the benefit of the lenders under the Credit Agreement and certain other agreements. The collateral securing the Notes will be released if the Issuer's senior, unsecured long-term debt securities obtain an investment grade rating from two out of the three rating agencies, subject to reversion if such rating agencies withdraw the investment grade rating of the Issuer's senior, unsecured long-term debt securities or downgrade such rating below investment grade.

• Vistra Prices Private Offering of $1.25 Billion of Senior Secured Notes, from 5:23PM ET on Tuesday Nov 19, 2024 by Dow Jones

  5:23PM ET on Tuesday Nov 19, 2024 by Dow Jones
  Companies Mentioned: VST
  
  Vistra Prices Private Offering of $1.25 Billion of Senior Secured Notes
  
  PR Newswire
  
  IRVING, Texas, Nov. 19, 2024
  
  IRVING, Texas, Nov. 19, 2024 /PRNewswire/ -- Vistra Corp. (NYSE: VST) (the "Company" or "Vistra") announced today the pricing of a private offering (the "Offering") of $1.25 billion aggregate principal amount of senior secured notes, consisting of $500 million aggregate principal amount of senior secured notes due 2026 at a price to the public of 99.948% of their face value (the "2026 Notes") and $750 million aggregate principal amount of senior secured notes due 2034 at a price to the public of 99.903% of their face value (the "2034 Notes" and, together with the 2026 Notes, the "Notes"), to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be senior, secured obligations of Vistra Operations Company LLC, a Delaware limited liability company and an indirect wholly owned subsidiary of the Company (the "Issuer"). The 2026 Notes will bear interest at the rate of 5.050% per annum, and the 2034 Notes will bear interest at the rate of 5.700% per annum. The Notes will be fully and unconditionally guaranteed by certain of the Issuer's current and future subsidiaries that also guarantee the Issuer's Credit Agreement, dated as of October 3, 2016 (as amended, the "Credit Agreement"), by and among the Issuer, as borrower, Vistra Intermediate Company LLC, as parent guarantor, the other guarantors party thereto, Citibank, N.A., as administrative and collateral agent, various lenders and letter of credit issuers party thereto, and the other parties named therein. The Notes will be secured by a first-priority security interest in the same collateral that is pledged for the benefit of the lenders under the Credit Agreement and certain other agreements. The collateral securing the Notes will be released if the Issuer's senior, unsecured long-term debt securities obtain an investment grade rating from two out of the three rating agencies, subject to reversion if such rating agencies withdraw the investment grade rating of the Issuer's senior, unsecured long-term debt securities or downgrade such rating below investment grade.