NRG Energy Inc. will reprice its $1.9 billion term loan B with a maturity date of June 2023, according to a Jan. 20 company release.

The interest rate margin on the loan will be lowered by 50 basis points to LIBOR +225 basis points while the LIBOR floor will stay at 0.75%.

The repricing is expected to save the company about $60 million in interest over the remaining life of the loan and approximately $9 million in 2017.