NRG Yield Operating LLC closed a $450 million secured revolving credit facility with RBC Capital Markets as sole lead arranger, and Royal Bank of Canada as agent.
The bank group includes ten financial institutions and the facility's term was extended to April 2019. NRG Yield says the facility, which was from $60 million, will be used for general corporate purposes including financing of future acquisitions and posting of letters of credit
‘The increase in our undrawn, secured revolving credit facility highlights NRG Yield's strong financial position,’ says Kirk Andrews, the company's chief financial officer. ‘Along with our recent $345 million convertible note offering, this expanded revolver provides us with a flexible capital source with which to execute on our short-term and long-term growth strategy.’