This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

NRG Energy, Inc. Announces Commencement Of Change Of Control Offers To Purchase Senior Notes Of GenOn Energy, Inc.

Stocks in this article: NRG

NRG Energy, Inc. (NYSE: NRG) has commenced change of control offers (the Offers) to purchase any and all of the following outstanding senior notes of GenOn Energy, Inc. (GenOn):

  • 7.625% Senior Notes due 2014,
  • 7.875% Senior Notes due 2017,
  • 9.500% Senior Notes due 2018, and
  • 9.875% Senior Notes due 2020.

NRG is offering to purchase any and all of each series of notes at a cash price equal to 101% of the aggregate principal amount of such notes, plus accrued and unpaid interest up to, but not including, the date of purchase. Each of the Offers will expire at 11:59 pm, New York City time, on February 8, 2013 (which is the end of the day on such date), unless extended. Tendered notes may be validly withdrawn on or prior to such date and time. The purchase price will be paid to holders promptly after the date the Offers expire.

NRG reserves the right to terminate, withdraw or amend the Offers at any time subject to applicable law and the indentures and supplemental indentures governing each series of notes. The terms and conditions of the Offers are set forth in Change of Control Notices and Offers to Purchase, dated January 9, 2013 for each series of notes (collectively, the Offers to Purchase) and related Letters of Transmittal.

The Offers are being made pursuant to the change of control provisions of the indentures and supplemental indentures pursuant to which each series of notes were issued. On December 14, 2012, Plus Merger Corporation, a wholly owned subsidiary of NRG merged with and into GenOn (the Merger), with GenOn continuing as the surviving corporation and a wholly owned subsidiary of NRG. The consummation of the Merger constituted a change of control under the indentures and supplemental indentures governing the notes. Following a change of control, the indentures and supplemental indentures require GenOn to make an offer to purchase for cash all of the outstanding notes validly tendered by any holder. Each of the Offers made by NRG is in lieu of GenOn making the offers required by the indentures and supplemental indentures.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs