FirstEnergy intends to offer $1.0B convertible notes due 2026; up to $150M additional

FIRSTENERGY CORP

Plans to issue $1.0B convertible senior notes due 2026; initial purchasers may buy up to $150M additional.
Net proceeds to refinance existing debt, fund pension plan, and general corporate purposes.
Notes unsecured and unsubordinated; interest payable semiannually, convertible under conditions.
Conversion settlement: cash for principal, then cash/stock combo at FirstEnergy's election for excess.
Offered via private placement under Rule 144A to qualified institutional buyers; not registered.

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