NRG ENERGY, INC. (NRG): debt financing — NRG issues $2.6B in new notes and $900M term loan; tenders 99.7% of Lightning 7.25% notes

NRG ENERGY, INC.

Issued $500M 4.955% secured notes due 2031, $1.05B 5.875% senior notes due 2034, $1.05B 6.125% notes due 2036.
Also borrowed $900M incremental term loan B facility due 2033 at SOFR+1.75%.
Proceeds to repay revolver and fund Lightning tender offer for its 7.250% notes due 2032.
Lightning tender: ~99.67% of $1.5B notes tendered; early settlement April 29; redemption of rest May 13.
Consent solicitation got requisite consents to eliminate covenants and release collateral.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

NRG ENERGY, INC. incurred senior notes of $1,050 million aggregate principal amount with Citigroup Global Markets Inc., as representative of the several initial purchasers at 5.875% per annum maturing May 15, 2034.

Instrument: senior notes
Principal: $1,050 million aggregate principal amount
Counterparty: Citigroup Global Markets Inc., as representative of the several initial purchasers
Rate: 5.875% per annum
Maturity: May 15, 2034
Event: incurrence

Exact text from the filing

In addition, on April 28, 2026, the Company sold and issued (1) $1,050 million aggregate principal amount of 5.875% senior notes due 2034 (the “2034 Notes”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

NRG ENERGY, INC. incurred senior notes of $500 million aggregate principal amount with Citigroup Global Markets Inc., as representative of the several initial purchasers at 4.955% per annum maturing April 30, 2031.

Instrument: senior notes
Principal: $500 million aggregate principal amount
Counterparty: Citigroup Global Markets Inc., as representative of the several initial purchasers
Rate: 4.955% per annum
Maturity: April 30, 2031
Event: incurrence

Exact text from the filing

On April 28, 2026, NRG Energy, Inc., a Delaware corporation (the “Company”), sold and issued $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031 (the “Secured Notes”) pursuant to the terms of a purchase agreement, dated April 14, 2026, among the Company, the guarantors named therein and Citigroup Global Markets Inc., as representative of the several initial purchasers named therein.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

NRG ENERGY, INC. entered into Sixteenth Amendment to Amended and Restated Credit Agreement with Citicorp North America, Inc., as administrative agent and as collateral agent, and certain financial institutions, as lenders valued at Established a new term loan B facility with borrowings of $900.0 million in aggregate principal amou (effective 2026-04-28).

Action: entry
Agreement: credit facility
Counterparty: Citicorp North America, Inc., as administrative agent and as collateral agent, and certain financial institutions, as lenders
Value: Established a new term loan B facility with borrowings of $900.0 million in aggregate principal amou
Effective: 2026-04-28

Exact text from the filing

On April 28, 2026, the Company, as borrower, and certain subsidiaries of the Company, as guarantors, entered into the Sixteenth Amendment (the “Sixteenth Amendment”) to the Second Amended and Restated Credit Agreement, dated as of June 30, 2016 (the “Credit Agreement”) with, among others, Citicorp North America, Inc., as administrative agent and as collateral agent (the “Agent”), and certain financial institutions, as lenders, which amended the Credit Agreement, in order to (i) establish a new term loan B facility with borrowings of $900.0 million in aggregate principal amount (the “Incremental Term Loan B Facility” and the loans thereunder, the “Incremental Term B Loans”) and (ii) make certain other modifications to the Credit Agreement with respect to implementing the Incremental Term Loan B Facility as set forth therein.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

NRG ENERGY, INC. entered into Senior Notes due 2034 and Senior Notes due 2036 with Citigroup Global Markets Inc., as representative of the several initial purchasers valued at $1,050 million aggregate principal amount of 5.875% senior notes due 2034 and $1,050 million aggrega (effective 2026-04-28).

Action: entry
Agreement: notes offering
Counterparty: Citigroup Global Markets Inc., as representative of the several initial purchasers
Value: $1,050 million aggregate principal amount of 5.875% senior notes due 2034 and $1,050 million aggrega
Effective: 2026-04-28

Exact text from the filing

on April 28, 2026, the Company sold and issued (1) $1,050 million aggregate principal amount of 5.875% senior notes due 2034 (the “2034 Notes”) and (2) $1,050 million aggregate principal amount of 6.125% senior notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Unsecured Notes” and, collectively with the Secured Notes, the “Notes”) pursuant to the terms of a purchase agreement, dated April 14, 2026, among the Company, the guarantors named therein and Citigroup Global Markets Inc., as representative of the several initial purchasers named therein.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

NRG ENERGY, INC. entered into Senior Secured First Lien Notes due 2031 with Citigroup Global Markets Inc., as representative of the several initial purchasers valued at $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031 (effective 2026-04-28).

Action: entry
Agreement: notes offering
Counterparty: Citigroup Global Markets Inc., as representative of the several initial purchasers
Value: $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031
Effective: 2026-04-28

Exact text from the filing

On April 28, 2026, NRG Energy, Inc., a Delaware corporation (the “Company”), sold and issued $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031 (the “Secured Notes”) pursuant to the terms of a purchase agreement, dated April 14, 2026, among the Company, the guarantors named therein and Citigroup Global Markets Inc., as representative of the several initial purchasers named therein.

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NRG ENERGY, INC. filing history →

Source: SEC EDGAR

accession 0001104659-26-050486

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