FIRSTENERGY CORP (FE): debt financing — FirstEnergy closes $2.5B convertible note offering; plans $1.2B buyback of 2026 notes

FIRSTENERGY CORP

Issued $1.35B of 3.625% convertible notes due 2029 and $1.15B of 3.875% notes due 2031.
Net proceeds ~$2.47B after discounts and expenses; includes full exercise of greenshoe for $350M.
Will use ~$1.2B to repurchase a portion of its $1.5B outstanding 4.00% convertible notes due 2026.
Initial conversion price of $47.78 per share (20% premium over June 9 closing price).
Remaining proceeds for debt repayment, refinancing, or general corporate purposes.

item 1.01 item 8.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FIRSTENERGY CORP incurred convertible notes of $1.35 billion aggregate principal amount of its 3.625% Convertible Senior Notes due 2029 and $1.15 billion aggregate pri with The Bank of New York Mellon Trust Company, N.A. at 3.625% per year and 3.875% per year maturing January 15, 2029 and January 15, 2031.

Instrument: convertible notes
Principal: $1.35 billion aggregate principal amount of its 3.625% Convertible Senior Notes due 2029 and $1.15 billion aggregate pri
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 3.625% per year and 3.875% per year
Maturity: January 15, 2029 and January 15, 2031
Event: incurrence

Exact text from the filing

On June 12, 2025, FirstEnergy Corp. (the “Company”) completed its offering of $1.35 billion aggregate principal amount of its 3.625% Convertible Senior Notes due 2029 (the “2029 Notes”) and $1.15 billion aggregate principal amount of its 3.875% Convertible Senior Notes due 2031 (the “2031 Notes”

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FIRSTENERGY CORP filing history →

Source: SEC EDGAR

accession 0001031296-25-000027

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