Business
Vistra Prices Private Offering of $2 Billion of Senior Secured Notes
Vistra Corp. (NYSE: VST) (the "Company" or "Vistra") announced today the pricing of a private offering (the "Offering") of $2 billion aggregate principal amount of senior secured notes, consisting of $750 million aggregate principal amount of senior secured notes due 2028 at a price to the public of 99.974% of their face value (the "2028 Notes"), $500 million aggregate principal amount of senior secured notes due 2030 at a price to the public of 99.933% of their face value (the "2030 Notes"), an
About this update from Vistra Corp.
[{"type":"text","content":"IRVING, Texas, Oct. 1, 2025 /PRNewswire/ -- Vistra Corp. (NYSE: VST) (the "Company" or "Vistra") announced today the pricing of a private offering (the "Offering") of $2 billion aggregate principal amount of senior secured notes, consisting of $750 million aggregate principal amount of senior secured notes due 2028 at a price to the public of 99.974% of their face value (the "2028 Notes"), $500 million aggregate principal amount of senior secured notes due 2030 at a price to the public of 99.933% of their face value (the "2030 Notes"), and $750 million aggregate principal amount of senior secured notes due 2035 at a price to the public of 99.691% of their face value (the "2035 Notes" and, together with the 2028 Notes and the 2030 Notes, the "Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be senior, secured obligations of Vistra Operations Company LLC, a Delaware limited liability company and an indirect wholly owned subsidiary of the Company (the "Issuer"). The 2028 Notes will bear interest at the rate of 4.300% per annum, the 2030 Secured Notes will bear interest at the rate of 4.600% per annum, and the 2035 Secured Notes will bear interest at the rate of 5.250% per annum. The Notes will be fully and unconditionally guaranteed by certain of the Issuer's current and future subsidiaries that also guarantee the Issuer's Credit Agreement, dated as of October 3, 2016 (as amended, the "Credit Agreement"), by and among the Issuer, as borrower, Vistra Intermediate Company LLC, the guarantors party thereto, Citibank, N.A., as administrative and collateral agent, various lenders and letter of credit issuers party thereto, and the other parties named therein. The Notes will be secured by a first-priority security interest in the same collateral that is pledged for the benefit of the lenders under the Credit Agreement and certain other agreements, which consists of a substantial portion of the property, assets and rights owned by the Issuer and the subsidiary guarantors as well as the equity interest of the Issuer. The collateral securing the Not...