NRG Energy Acquires 19 GW in Major Deal, Funded by $4.9B Notes Offering
NRG Energy, Inc. has announced plans to acquire a significant portfolio of assets from LS Power Equity Advisors. The deal includes approximately 13 GW of natural gas-fired generation facilities and a commercial and industrial virtual power plant platform with around 6 GW of capacity. The company intends to fund this acquisition using the net proceeds from its recent notes offerings, totaling US$4.9 billion.
NRG Energy, Inc. sought legal advice from global law firm White & Case LLP for its concurrent notes offerings. The White & Case Capital Markets team, led by partner Daniel Nam, included partners and associates who guided NRG through the offerings. The notes issued included senior secured first lien notes due in 2030 and 2035, and senior unsecured notes due in 2034 and 2036.
In addition to funding the acquisition, NRG will use the net proceeds to repay US$500 million of its 2.000% senior secured first lien notes due on December 2, 2025.
NRG's acquisition of the generation and virtual power plant assets from LS Power Equity Advisors, facilitated by White & Case LLP's legal guidance, marks a significant step in the company's growth strategy. The acquisition, funded by the notes offerings, is expected to strengthen NRG's position in the energy market.
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