Vistra Prices Private Offering of $1.25 Billion of Senior Secured Notes

Core Viewpoint - Vistra Corp. has announced a private offering of $1.25 billion in senior secured notes to refinance existing debt and fund early payments related to the acquisition of Vistra Vision LLC [1][2][3] Group 1: Offering Details - The offering consists of $500 million in senior secured notes due 2026 and $750 million in senior secured notes due 2034, with interest rates of 5.050% and 5.700% respectively [1] - The notes will be secured by a first-priority security interest in collateral pledged for the benefit of lenders under the existing Credit Agreement [1] - The offering is expected to close on December 4, 2024, subject to customary closing conditions [3] Group 2: Use of Proceeds - Proceeds from the offering will be used for general corporate purposes, including refinancing outstanding debt and funding early payments to Avenue Capital Management for the acquisition of Vistra Vision [2][3] - The total obligation to Avenue for the Vistra Vision purchase installment payments is approximately $550 million, which will be extinguished for about $506 million [3][6] Group 3: Company Overview - Vistra Corp. is a leading integrated retail electricity and power generation company, operating a diverse fleet of energy generation facilities [7][8] - The company focuses on reliability, affordability, and sustainability in its operations [7]