NRG Energy Enters Material Definitive Agreement
Ticker: NRG · Form: 8-K · Filed: Apr 17, 2024 · CIK: 1013871
| Field | Detail |
|---|---|
| Company | Nrg Energy, INC. (NRG) |
| Form Type | 8-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $875.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
Related Tickers: NRG
TL;DR
NRG Energy just signed a big deal, creating a new financial obligation. Keep an eye on this.
AI Summary
On April 16, 2024, NRG Energy, Inc. entered into a material definitive agreement related to a direct financial obligation. The filing details the creation of this obligation under an off-balance sheet arrangement. Specific details regarding the nature of the agreement and the financial obligation are provided within the filing.
Why It Matters
This filing indicates a significant financial commitment or obligation for NRG Energy, Inc., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce financial risks and impact the company's balance sheet.
Key Players & Entities
- NRG ENERGY, INC. (company) — Registrant
- April 16, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-15891 (identifier) — Commission File Number
- 41-1724239 (identifier) — IRS Employer Identification No.
- 910 Louisiana Street, Houston, Texas 77002 (address) — Principal executive offices
- (609) 524-4500 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the material definitive agreement entered into by NRG Energy, Inc. on April 16, 2024?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not fully elaborated in the provided text.
What is the significance of the 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement' item in this 8-K filing?
This item signifies that NRG Energy, Inc. has undertaken a new financial commitment that will appear on or affect its balance sheet, potentially impacting its financial leverage and reporting.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on April 16, 2024.
What is NRG Energy, Inc.'s principal executive office address?
NRG Energy, Inc.'s principal executive office is located at 910 Louisiana Street, Houston, Texas 77002.
What is the Commission File Number for NRG Energy, Inc.?
The Commission File Number for NRG Energy, Inc. is 001-15891.
Filing Stats: 991 words · 4 min read · ~3 pages · Grade level 11.6 · Accepted 2024-04-16 18:35:09
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 NRG New York Stock Exchange Indic
- $875.0 million — term loan B facility with borrowings of $875.0 million in aggregate principal amount (the " Te
Filing Documents
- tm2411962d1_8k.htm (8-K) — 31KB
- tm2411962d1_ex10-1.htm (EX-10.1) — 1673KB
- 0001104659-24-047938.txt ( ) — 2209KB
- nrg-20240416.xsd (EX-101.SCH) — 3KB
- nrg-20240416_lab.xml (EX-101.LAB) — 33KB
- nrg-20240416_pre.xml (EX-101.PRE) — 22KB
- tm2411962d1_8k_htm.xml (XML) — 3KB
01
Item 1.01. Entry into a Material Definitive Agreement. On April 16, 2024, NRG Energy, Inc. (" NRG "), as borrower, and certain subsidiaries of NRG, as guarantors, entered into the Eighth Amendment to the Second Amended and Restated Credit Agreement (the " Eighth Amendment ") with, among others, Citicorp North America, Inc., as administrative agent and as collateral agent (the " Agent "), and certain financial institutions, as lenders, which amended NRG's Second Amended and Restated Credit Agreement, dated as of June 30, 2016 (the " Credit Agreement "), in order to (i) establish a new term loan B facility with borrowings of $875.0 million in aggregate principal amount (the " Term Loan Facility " and the loans thereunder, the " Term Loans ") and (ii) make certain other modifications to the Credit Agreement as set forth therein. The proceeds from the Term Loans will be used to repay existing indebtedness of NRG, including NRG's 3.750% senior secured first lien notes due 2024 and a portion of the purchase price for the previously announced repurchases from certain holders of NRG's 2.75% convertible senior notes due 2048. At NRG's election, the Term Loans will bear interest at a rate per annum equal to either (1) a fluctuating rate equal to the highest of (A) the rate published by the Federal Reserve Bank of New York in effect on such day, plus 0.50%, (B) the rate of interest per annum publicly announced from time to time by The Wall Street Journal as the "Prime Rate" in the United States, and (C) a rate of one-month Term SOFR (as defined in the Term Loan Facility), plus 1.00%, or (2) Term SOFR (as defined in the Term Loan Facility and which rate will not be less than 0%) for a one-, three- or six-month interest period or such other period as agreed to by the Agent and the lenders, as selected by NRG, plus 2.00%. The Term Loan Facility is guaranteed by each of NRG's subsidiaries that guarantee NRG's revolving credit facility and is secured on a first lien basis by
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. The disclosures under Item 1.01 of this Current Report on Form 8-K are also responsive to Item 2.03 of this report and are incorporated by reference into this
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Eighth Amendment to Second Amended and Restated Credit Agreement, dated as of April 16, 2024, by and among NRG Energy, Inc., Citicorp North America, Inc., as administrative agent and as collateral agent, and certain financial institutions, as lenders. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the iXBRL document contained in Exhibit 101.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 16, 2024 NRG Energy, Inc. (Registrant) By: /s/ Christine A. Zoino Christine A. Zoino Corporate Secretary