NRG Energy Inc. announced early results of its cash tender offer to purchase any and all of the $869.2 million outstanding aggregate principal amount of its 6.625% senior notes due 2023.
The company also is soliciting consents to eliminate substantially all of the restrictive covenants and certain events of default and related provisions, and to reduce the notice period required for optional redemption of the 2023 notes.
As of 5 p.m. ET on Dec. 13, about $789.6 million, or 90.84%, of the 2023 notes were tendered. On Dec. 14, the company will accept for purchase and pay all the validly tendered and not validly withdrawn notes at or prior to the early tender and consent deadline.
Holders who validly tendered and did not validly withdraw prior to the early tender and consent deadline are eligible to receive $1,036.25 per $1,000 principal amount of notes, plus the accrued and unpaid interest, according to a news release. That consideration includes a $30 consent payment.
The tender offer will expire on 11:59 p.m. ET on Dec. 28.
D.F. King & Co. Inc. is serving as the information agent, while Citigroup Global Markets Inc. is acting as dealer manager and solicitation agent for the tender offer and consent solicitation.