Clearway Energy prints $925M of green bonds at par to yield 3.75%; terms

Clearway Energy Operating LLC has placed $925 million of 10-year green senior unsecured notes at the tight end of price guidance, sources said. Bookrunners for the offering were Morgan Stanley (lead left, B&D), Goldman Sachs, J.P. Morgan and MUFG.

Proceeds will be used to repurchase roughly $600 million of the outstanding 2025 senior notes through a tender offer and for general corporate purposes. The company will also allocate an amount equal to the net proceeds from the offering to eligible projects as defined under the Green Bonds Framework.

Clearway Energy, through its subsidiaries, acquires, owns and operates contracted renewable energy and conventional energy generation and thermal infrastructure assets in the U.S. Terms: