Vistra Corp. (VST): debt financing — Vistra closes $1.75B debt offering to finance Energy Harbor acquisition

Vistra Corp.

Issued $650M of 6.950% senior secured notes due 2033 and $1.1B of 7.750% senior unsecured notes due 2031.
Net proceeds of ~$1.73B after fees, to fund cash portion of Energy Harbor merger and for general corporate purposes.
Secured notes are backed by a first-priority interest in collateral pledged under existing credit agreement.
Concurrently amended credit agreements to permit Vistra Vision dispositions and certain other modifications.
Interest payable semi-annually starting April 15, 2024; notes callable at make-whole or fixed prices depending on period.

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

Vistra Corp. incurred senior notes of $1.1 billion aggregate principal amount with Citigroup Global Markets Inc. as representative of the several initial purchasers at 7.750% per annum maturing October 15, 2031.

Instrument: senior notes
Principal: $1.1 billion aggregate principal amount
Counterparty: Citigroup Global Markets Inc. as representative of the several initial purchasers
Rate: 7.750% per annum
Maturity: October 15, 2031
Event: incurrence

Exact text from the filing

of $650 million aggregate principal amount of the Issuer’s 6.950% senior secured notes due 2033 (the “Secured Notes”) in a private offering (the “Secured Offering”) and $1.1 billion aggregate principal amount of the Issuer’s 7.750% senior unsecured notes due 2031 (the “Unsecured Notes” and, together with the Secured Notes, the “Notes”) in a concurrent

View on SEC.gov

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

Vistra Corp. incurred senior notes of $650 million aggregate principal amount with Citigroup Global Markets Inc. as representative of the several initial purchasers at 6.950% per annum maturing October 15, 2033.

Instrument: senior notes
Principal: $650 million aggregate principal amount
Counterparty: Citigroup Global Markets Inc. as representative of the several initial purchasers
Rate: 6.950% per annum
Maturity: October 15, 2033
Event: incurrence

Exact text from the filing

that become guarantors from time to time, the “Subsidiary Guarantors”), in connection with the offer and sale by the Issuer, and the purchase by the Initial Purchasers, of $650 million aggregate principal amount of the Issuer’s 6.950% senior secured notes due 2033 (the “Secured Notes”) in a private offering (the “Secured Offering”) and $1.1 billion aggregate

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vistra Corp. entered into Fourteenth Supplemental Indenture with Wilmington Trust, National Association valued at $650 million aggregate principal amount of the Issuer’s 6.950% senior secured notes due 2033 (effective 2023-09-26).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $650 million aggregate principal amount of the Issuer’s 6.950% senior secured notes due 2033
Effective: 2023-09-26

Exact text from the filing

The Secured Notes were issued under an indenture (the “Base Indenture”), dated as of June 11, 2019, by and between the Issuer and Wilmington Trust, National Association, as trustee (the “Trustee”), as supplemented by that certain Fourteenth Supplemental Indenture, dated as of September 26, 2023, by and among the Issuer, the Subsidiary Guarantors and the Trustee

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vistra Corp. entered into Unsecured Notes Indenture with Wilmington Trust, National Association valued at $1.1 billion aggregate principal amount of the Issuer’s 7.750% senior unsecured notes due 2031 (effective 2023-09-26).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $1.1 billion aggregate principal amount of the Issuer’s 7.750% senior unsecured notes due 2031
Effective: 2023-09-26

Exact text from the filing

The Unsecured Notes were issued under an indenture, dated as of September 26, 2023, by and among the Issuer, the Subsidiary Guarantors and the Trustee (the “Unsecured Notes Indenture”

View on SEC.gov

Browse all debt financings →

Vistra Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-248069

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.