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NRG launches tender offer for $200M senior notes

has launched atender offer to purchase $200 million of its 7.625% senior notes due 2018 undera modified Dutch auction.

The companywill also redeem $192.5 million of its 7.875% senior notes due 2021 at 103.938%of the notes' principal amount, plus accrued and unpaid interest on Nov. 3.

Holdersmust tender and not withdraw their 2018 notes before 5 p.m. ET on Oct. 18 to bequalified for an early participation payment of $30 per $1,000 principal amountof tendered notes. The tender offer will expire at 11:59 p.m. ET on Nov. 1.

NRGwill use cash on hand to fund its tender offer and note redemption, accordingto an Oct. 4 company release.