Princeton-based NRG Energy announced Friday it intends to commence an offering of $700 million in aggregate principal amount of senior notes due 2022.
According to the announcement, the notes will be senior unsecured obligations of NRG and will be guaranteed by certain of its subsidiaries. NRG intends to use the proceeds from the offering to partially fund the consummation of its Edison Mission Energy acquisition. If the EME acquisition is not consummated, NRG intends to use the proceeds from the offering to repay existing indebtedness and to pay related fees and expenses. All remaining amounts, if any, will be used for general corporate purposes. The offering is not contingent on the concurrent closing of the EME acquisition.
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