Vistra Operations Co. LLC on Dec. 14 entered into a repricing amended credit agreement, according to a Dec. 14 Form 8-K filing.

Under the amended credit agreement, interest rates on the outstanding $2.83 billion initial term loans, outstanding $650 million initial term C loans and revolving credit loans were reduced. The loans bear interest at a rate equal to LIBOR plus an applicable margin of 2.50% or a base rate plus an applicable margin of 1.50%.

The initial term loans and initial term C loans are prepayable any time without any premium or penalty as long as there is a 1.0% pre-payment premium in connection with any repricing that decreases the interest rate before June 14, 2018.

The amendment, however, did not change the interest rate on the outstanding $993 million 2016 incremental term loans and will continue to bear interest at a rate equal to LIBOR plus an applicable margin of 2.75% or a base rate plus an applicable margin of 1.75%.

The Vistra Energy Corp. subsidiary paid down $150 million of its initial term C loan and increased the revolving letter of credit commitment to $715 million from $600 million, while the total revolving credit commitment remained unchanged at $860 million. As a result, Vistra Operations expects its annual interest expense with respect to the credit facilities to decrease by approximately $12 million.

Deutsche Bank AG New York Branch is acting as administrative and collateral agent.