RG Yield Operating LLC (Yield Operating), a subsidiary of NRG Yield, Inc. (NRG Yield), has priced its previously announced offering of US$350.0 million in aggregate principal amount of senior 5.000% notes due 2026 (the “Notes”). The Notes will be senior unsecured obligations of Yield Operating and will be guaranteed by NRG Yield LLC, Yield Operating’s parent company, and by each of Yield Operating’s wholly owned current and future subsidiaries that guarantees indebtedness under its credit agreement.
The Notes will mature on September 15, 2026. The offering is expected to close on August 18, 2016, subject to customary conditions.
Yield Operating intends to use the proceeds of the offering to repay all outstanding borrowings under its revolving credit facility, and the remaining net proceeds will be used for general corporate purposes, including the funding of acquisitions and investments.
The Notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or outside the United States to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. The Notes and related guarantees have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This notice is issued pursuant to Rule 135c of the Securities Act, and does not constitute an offer to sell, nor a solicitation for an offer to purchase the Notes.
