--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-23-305934" form_type: "8-K" ticker: "VST" cik: "0001692819" company_name: "Vistra Corp." filed_at: "2023-12-29T23:59:59+00:00" generated_at: "2026-06-07T05:55:05.165100+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # Vistra closes $750M debt offering to fund tender of near-term notes; total purchase $759.2M ## Summary - Vistra Operations issued $400M of 6.950% senior secured notes due 2033 and $350M of 7.750% senior unsecured notes due 2031. - Net proceeds of ~$759M used to purchase $345.3M of 3.550% 2024 notes, $58.2M of 4.875% 2024 notes, $355.7M of 5.125% 2025 notes. - Tender offer oversubscribed: $980.6M tendered, but only $759.2M accepted due to $750M aggregate cap and proration. - Early settlement expected January 2, 2024; new notes carry higher coupons (6.95%/7.75%) than retired notes (3.55%-5.125%). ## SEC filing metadata - accession: 0001193125-23-305934 - form_type: 8-K - ticker: VST - cik: 0001692819 - company_name: Vistra Corp. - filed_at: 2023-12-29T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1692819/000119312523305934/0001193125-23-305934-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692819/000119312523305934/d661803d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-23-305934 - JSON: https://secwatch.observer/filing/0001193125-23-305934.json - Plain text: https://secwatch.observer/filing/0001193125-23-305934.txt ## Key facts - Debt Financings Vistra Corp. incurred senior notes of $400 million with Initial Purchasers at 6.950% per annum maturing October 15, 2033. - Instrument: senior notes - Principal: $400 million - Counterparty: Initial Purchasers - Rate: 6.950% per annum - Maturity: October 15, 2033 - Event: incurrence source text: by and among Vistra Operations, Citigroup Global Markets Inc. as representative of the several initial purchasers named in Schedule I thereto (the “Initial Purchasers”) and certain subsidiaries of the Issuer that are guarantors under that certain credit agreement, dated as of October 3, 2016, by and among the Issuer, Vistra Intermediate Company LLC, the guarantors party thereto, Credit Suisse AG, Cayman Islands Branch (as successor to Deutsche Bank AG New York Branch), as administrative and collateral agent, various lenders and letter of credit issuers party thereto, and the other parties named therein (as amended, restated, amended and restated, supplemented and/or otherwise modified from time to time, the “Credit Agreement”) (together with such other subsidiaries 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 $400 million aggregate principal amount of the Issue evidence_url: https://www.sec.gov/Archives/edgar/data/1692819/000119312523305934/0001193125-23-305934-index.htm - Debt Financings Vistra Corp. incurred senior notes of $350 million with Initial Purchasers at 7.750% per annum maturing October 15, 2031. - Instrument: senior notes - Principal: $350 million - Counterparty: Initial Purchasers - Rate: 7.750% per annum - Maturity: October 15, 2031 - Event: incurrence source text: and $350 million 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”), which form a part of the same series as the Issuer’s outstanding 7.750% Senior Notes due 2031 issued on September 26, 2023, in a concurrent private offering (the “Unsecured Offering” and, together with the Secured Offering, the “Offerings”) evidence_url: https://www.sec.gov/Archives/edgar/data/1692819/000119312523305934/0001193125-23-305934-index.htm - Material Agreements Vistra Corp. entered into a notes offering with Citigroup Global Markets Inc. as representative of the initial purchasers valued at $400 million and $350 million (effective 2023-12-11). - Action: entry - Agreement: notes offering - Counterparty: Citigroup Global Markets Inc. as representative of the initial purchasers - Value: $400 million and $350 million - Effective: 2023-12-11 source text: As previously announced by Vistra Corp. (the “Company”) in its Current Report on Form 8-K filed on December 15, 2023 with the U.S. Securities and Exchange Commission, Vistra Operations Company LLC (“Vistra Operations” or the “Issuer”), an indirect, wholly owned subsidiary of the Company, entered into purchase agreements, dated December 11, 2023, by and among Vistra Operations, Citigroup Global Markets Inc. as representative of the several initial purchasers named in Schedule I thereto (the “Initial Purchasers”) and certain subsidiaries of the Issuer that are guarantors under that certain credit agreement, dated as of October 3, 2016, by and among the Issuer, Vistra Intermediate Company LLC, the guarantors party thereto, Credit Suisse AG, Cayman Islands Branch (as successor to Deutsche Bank AG New York Branch), as administrative and collateral agent, various lenders and letter of credit issuers party thereto, and the other parties named therein (as amended, restated, amended and restate evidence_url: https://www.sec.gov/Archives/edgar/data/1692819/000119312523305934/0001193125-23-305934-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.