---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-024837"
form_type: "8-K"
ticker: "VST"
cik: "0001692819"
company_name: "Vistra Corp."
filed_at: "2026-01-27T23:59:59+00:00"
generated_at: "2026-05-16T07:33:36.884272+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Vistra issues $2.25B senior secured notes to fund Cogentrix Energy acquisition

## Summary
- Issued $1.0B of 4.700% notes due 2031 and $1.25B of 5.350% notes due 2036.
- Net proceeds approximately $2.225B after fees, original issue discount, and commissions.
- Proceeds to fund portion of Cogentrix Energy acquisition, repay debt, and general corporate purposes.
- Interest payable semi-annually on Jan 31 and Jul 31 starting Jul 31, 2026.
- Notes secured by first-priority lien on substantial assets; collateral releases upon investment grade rating.

## SEC filing metadata
- accession: 0001193125-26-024837
- form_type: 8-K
- ticker: VST
- cik: 0001692819
- company_name: Vistra Corp.
- filed_at: 2026-01-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692819/000119312526024837/0001193125-26-024837-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692819/000119312526024837/d102638d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-024837
- JSON: https://secwatch.observer/filing/0001193125-26-024837.json
- Plain text: https://secwatch.observer/filing/0001193125-26-024837.txt

## Key facts
- Debt Financings
  Vistra Corp. incurred senior notes of $2.250 billion aggregate principal amount with Wilmington Trust, National Association at 4.700% per annum on the 2031 Notes and 5.350% per annum on the 2036 Notes maturing January 31, 2031 for the 2031 Notes and January 31, 2036 for the 2036 Notes.
  - Instrument: senior notes
  - Principal: $2.250 billion aggregate principal amount
  - Counterparty: Wilmington Trust, National Association
  - Rate: 4.700% per annum on the 2031 Notes and 5.350% per annum on the 2036 Notes
  - Maturity: January 31, 2031 for the 2031 Notes and January 31, 2036 for the 2036 Notes
  - Event: incurrence
  source text: On January 22, 2026, Vistra Operations Company LLC (“Vistra Operations” or the “Issuer”), an indirect, wholly owned subsidiary of Vistra Corp., a Delaware corporation (the “Company” or “Vistra”), completed its previously announced private offering (the “Offering”) of $2.250 billion aggregate principal amount of the Issuer’s senior secured notes, consisting of $1.0 billion aggregate principal amount of the Issuer’s 4.700% senior secured notes due 2031 (the “2031 Notes”), and $1.250 billion aggregate principal amount of the Issuer’s 5.350% senior secured notes due 2036 (the “2036 Notes” and, together with the 2031 Notes, the “Secured Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692819/000119312526024837/0001193125-26-024837-index.htm
- Material Agreements
  Vistra Corp. entered into Twenty-Third Supplemental Indenture with Wilmington Trust, National Association valued at $2.250 billion (effective 2026-01-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Value: $2.250 billion
  - Effective: 2026-01-22
  source text: completed its previously announced private offering (the "Offering") of $2.250 billion aggregate principal amount of the Issuer’s senior secured notes
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692819/000119312526024837/0001193125-26-024837-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.