Vistra Energy Corp. on June 4 priced an upsized offering of $2 billion of senior secured notes.

The company is offering to qualified institutional buyers $1.2 billion of its 3.55% notes due 2024 at a price of 99.807% of their face value and $800 million of its 4.30% notes due 2029 at a price of 99.784% of their face value.

Subject to customary closing conditions, the offering is expected to close June 11.

The notes will be senior, secured obligations of Vistra Operations Co. LLC. They will be fully and conditionally guaranteed by certain of Vistra Energy's current and future subsidiaries that also guarantee the company's credit agreement.

Vistra Energy plans to use net proceeds from the offering, together with cash on hand, to prepay certain amounts outstanding under the senior secured term loan under the credit agreement and to pay fees and expenses related to the offering.