NRG Energy Inc. has closed the sale of its $575 million of its 2.75% convertible senior notes due June 1, 2048, according to a regulatory filing. The amount includes $75 million of the notes sold pursuant to an option to the initial purchasers.
The notes are convertible into cash, NRG Energy common shares or a combination of both at an initial conversion rate of 20.9479 shares per $1,000 principal amount of notes, representing an initial conversion price of approximately $47.74 per share.
