NRG Energy Issues $2.6 Billion in Senior Notes and Secures $900 Million Term Loan

On April 28, 2026, NRG Energy (NYSE: NRG), Inc., a Delaware corporation, sold and issued $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031, $1,050 million aggregate principal amount of 5.875% senior notes due 2034, and $1,050 million aggregate principal amount of 6.125% senior notes due 2036. These notes are guaranteed by NRG's wholly-owned U.S. subsidiaries that also guarantee the company's credit agreement. The notes were sold on a private placement basis to qualified institutional buyers and non-U.S. persons.

In addition, NRG entered into the Sixteenth Amendment to its Credit Agreement, establishing a new $900 million Incremental Term Loan B Facility with a final maturity date of April 28, 2033. The proceeds from the notes offerings and the term loan will be used to repay borrowings under the revolving credit facility, pay the tender price for the previously announced tender offer for Lightning Power's outstanding 7.250% senior secured notes due 2032, cover transaction fees and expenses, and for general corporate purposes.

NRG's wholly-owned subsidiary, Lightning Power, LLC, successfully tendered approximately $1.495 billion, or 99.67%, of its $1.5 billion outstanding 7.250% senior secured notes due 2032 in a cash tender offer. The tender offer included an early tender payment and consent solicitation to amend the indenture governing the notes.