NRG launches note offerings to fund LSP acquisition and repay $500M of 2% secured notes

NRG ENERGY, INC.

Offering senior secured first lien notes due 2030 and 2035, and senior unsecured notes due 2034 and 2036; proceeds to partly fund LSP acquisition cash purchase price.
Plans to use proceeds to repay $500M of 2.000% senior secured notes maturing December 2, 2025.
LSP portfolio expected to contribute ~$1.6B to consolidated Adjusted EBITDA; revenue enhancements of ~$800M run-rate targeted within 18 months of closing.
Entered $216M Texas Energy Fund loan at 3% for T.H. Wharton plant; expects $562M second TEF loan at 3% for Cedar Bayou, with $200M initial draw in September 2025.
Secured notes share first-priority collateral with existing credit agreement; all domestic subsidiaries that guarantee term loans will guarantee the notes.

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