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FirstEnergy Announces Proposed Offering of $950 Million of Convertible Senior Notes Due 2029 and $850 Million of Convertible Senior Notes Due 2031
FirstEnergy Corp. (NYSE: FE) ("FirstEnergy") announced today that it intends to offer, subject to market and other conditions, $950 million aggregate principal amount of convertible senior notes due 2029 (such series, the "2029 Notes") and $850 million aggregate principal amount of convertible senior notes due 2031 (such series, the "2031 Notes" and, together with the 2029 Notes, the "Notes") in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). FirstEnergy
About this update from Firstenergy Corp.
[{"type":"text","content":"AKRON, Ohio, June 9, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) ("FirstEnergy") announced today that it intends to offer, subject to market and other conditions, $950 million aggregate principal amount of convertible senior notes due 2029 (such series, the "2029 Notes") and $850 million aggregate principal amount of convertible senior notes due 2031 (such series, the "2031 Notes" and, together with the 2029 Notes, the "Notes") in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). FirstEnergy also intends to grant to each of the initial purchasers of the Notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $150 million aggregate principal amount of the 2029 Notes and an additional $150 million aggregate principal amount of the 2031 Notes.","length":940,"tagName":"p"},{"type":"image","alt":"FirstEnergy Corp. Logo (PRNewsfoto/FirstEnergy Corp.)","displaySize":"","headline":null,"caption":"FirstEnergy Corp. Logo (PRNewsfoto/FirstEnergy Corp.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":156,"url":"https://media.zenfs.com/en/prnewswire.com/2a99b577b4d2ad4d6d7492945c9a5732"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/bX6S.Xffy384KN5ZiA4dHg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI3NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/2a99b577b4d2ad4d6d7492945c9a5732","width":400,"height":156}},"href":"https://mma.prnewswire.com/media/543843/FirstEnergy_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"FirstEnergy intends to use the net proceeds from the offering of the Notes for (i) the repurchase of all or a portion of the $1.5 billion aggregate principal amount outstanding of its 4.00% convertible senior notes due May 1, 2026, (ii) the repayment, redemption or refinancing of existing indebtedness, (iii) general corporate purposes, or (iv) any combination of the foregoing. FirstEnergy's management will have broad discretion in determining how the net proceeds from the offering will be used.","length":503,"tagName":"p"},{"type":"text","content":"The Notes will be unsecured and unsubordinated obligations of FirstEnergy, and will be convertible at the option of the holders ...