NRG Energy To Refinance $3.9B Debt

Independent power producer, NRG Energy, is planning to refinance $3.9 billion of debt and change the financing terms.

Independent power producer, NRG Energy, is planning to refinance $3.9 billion of debt and change the financing terms, Bloomberg reports. The company will offer a $1.6 billion term loan due in seven years and a $2.3 billion revolving credit line for the refinancing. The power producer will also extend the debt maturities by refinancing a first-lien credit facility and its senior secured notes due in 2016 and 2017. The financings will simplify NRG’s capital structure, better align covenant packages and extend debt maturities.

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