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NRG Energy completes partial redemption of 6.25% senior notes

NRG Energy Inc. retired approximately $575 million in outstanding indebtedness after completing a partial redemptio of its 6.25% senior notes due 2022.

The redemption of $486 million of senior notes, along with recently completed open market repurchases of $89 million of outstanding indebtedness, allowed the company to retire outstanding indebtedness equal to the aggregate principal amount of NRG's 2.75% convertible senior notes due 2048 issued May 24.

On the same day, NRG Energy announced that is moving ahead with completing a $1 billion stock buyback program, after closing the sale of its stake in NRG Yield Inc. and a renewable energy business to Global Infrastructure Partners. The company netted more than $1.3 billion in cash and shed $6.7 billion in debt with the asset sales.