NRG Energy Reprices $1.58 Billion Term Loan

Posted by SI Staff on February 11, 2013 No Comments
Categories : FYI

NRG Energy Inc., a power generator and retail electricity business, has repriced a $1.58 billion loan (Term Loan B), which is due in 2018. The repricing includes a reduction of spread from 3.0% to 2.5% and a reduction in the LIBOR floor from 1.0% to 0.75%.

‘The successful repricing of NRG's term loan will result in annual interest expense savings of approximately $12 million and represents another significant step toward achieving at least $100 million in balance-sheet efficiencies resulting from our recently completed merger with GenOn,’ says Kirk Andrews, chief financial officer at NRG Energy.

Leave a Comment