NRG Energy Reprices $1.58 Billion Term Loan


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.

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