trending Market Intelligence /marketintelligence/en/news-insights/trending/esygdb8oea32-mrgrc4clq2 content esgSubNav
In This List

Vistra Energy amends credit agreement

Blog

Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024


Vistra Energy amends credit agreement

Vistra Energy Corp. unit Vistra Operations Co. LLC amended its credit agreement, according to a June 15 filing.

The amendment, outlined in a Form 8-K, allows for the reduction of rate margins interest applicable to the initial term loans to a rate equal to the London Interbank Offered Rate plus an applicable margin of 2.00% or a base rate plus an applicable margin of 1.00%. For the revolving credit loans, the interest rate margins were reduced to a rate equal to LIBOR plus an applicable margin of 1.75% or a base rate plus applicable margin of 0.75%.

Maturity of the revolving credit was also extended to June 14, 2023, from Aug. 4, 2021. The total revolving credit commitment was hiked to $2.5 billion from $860 million, while the revolving credit commitment was increased to $2.3 billion from $715 million.

Further, Vistra Operations also incurred new class of incremental term loans of $2.05 billion to fund the Dynegy Inc. credit agreement payoff. Interest will bear at a rate equal to LIBOR plus applicable margin of 2.00% or a base plus an applicable margin of 1.00%.