NRG Energy Enters Material Definitive Agreement

TL;DR

NRG just signed a big financial deal, could be debt or something else.

AI Summary

On June 21, 2024, NRG Energy, Inc. entered into a material definitive agreement related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it is a significant event requiring disclosure.

Why It Matters

This filing indicates NRG Energy has committed to a new financial obligation, which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The nature of the financial obligation is not fully detailed, creating uncertainty about its potential impact on NRG's financial health.

Key Players & Entities

• NRG ENERGY, INC. (company) — Registrant
• June 21, 2024 (date) — Date of earliest event reported
• 910 Louisiana Street Houston Texas 77002 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock, par value $0.01 NRG New York Stock Exchange Indic
• $1.4 billion — increase the aggregate commitments from $1.4 billion to $2.3 billion and (iii) add a new ori
• $2.3 billion — regate commitments from $1.4 billion to $2.3 billion and (iii) add a new originator. The Rec

Filing Documents

• tm2417820d1_8k.htm (8-K) — 31KB
• tm2417820d1_ex10-1.htm (EX-10.1) — 1181KB
• tm2417820d1_ex10-2.htm (EX-10.2) — 20KB
• 0001104659-24-074049.txt ( ) — 1606KB
• nrg-20240621.xsd (EX-101.SCH) — 3KB
• nrg-20240621_lab.xml (EX-101.LAB) — 33KB
• nrg-20240621_pre.xml (EX-101.PRE) — 22KB
• tm2417820d1_8k_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On June 21, 2024, NRG Receivables LLC ("NRG Receivables"), an indirect wholly-owned subsidiary of NRG Energy, Inc. (the "Company"), amended its accounts receivable securitized borrowing facility (the "Receivables Facility") to, among other things, (i) extend the scheduled termination date by one year, (ii) increase the aggregate commitments from $1.4 billion to $2.3 billion and (iii) add a new originator. The Receivables Facility includes a receivables loan and servicing agreement and a receivables sale agreement, and these amendments were effected pursuant to those agreements, as described below. On June 21, 2024, NRG Receivables, as borrower, NRG Retail, LLC ("NRG Retail"), as servicer, the Company, as performance guarantor, Royal Bank of Canada, as administrative agent, and the conduit lenders, committed lenders, LC Issuers and facility agents described therein entered into Amendment No. 4 (the "Receivables Loan Agreement Amendment") to the Receivables Loan and Servicing Agreement, dated as of September 22, 2020, as previously amended by Amendment No. 1 to the Receivables Loan and Servicing Agreement, dated as of July 26, 2021, Amendment No. 2 to the Receivables Loan and Servicing Agreement, dated as of July 26, 2022 and Amendment No. 3 to the Receivables Loan and Servicing Agreement, dated as of June 22, 2023 (as so amended, the "Receivables Loan Agreement"). Pursuant to the Receivables Loan Agreement Amendment, NRG Receivables may borrow up to $2.3 billion outstanding (adjusted seasonally), of which up to $2.3 billion (adjusted seasonally) may be in the form of letters of credit issued by the LC Issuers for the benefit of certain subsidiaries of the Company party to the Receivables Sale Agreement (defined below) (such subsidiaries, the "Originators") or their affiliates, based on the availability of eligible receivables and other customary factors. The Receivables Loan Agreement Amendment also extended t

03. Creation of a Direct Financial Obligation or an Obligation

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 Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 4 to Receivables Loan and Servicing Agreement, dated as of June 21, 2024, among NRG Retail LLC, as Servicer, NRG Receivables LLC, as Borrower, NRG Energy, Inc., as Performance Guarantor, the Conduit Lenders, Committed Lenders, Facility Agents and LC Issuers party thereto, and Royal Bank of Canada, as administrative Agent, and included as Exhibit A-2 thereto a clean, conformed copy of the Receivables Loan and Servicing Agreement. 10.2 Joinder Agreement, dated as of June 21, 2024, by Direct Energy Services, LLC, as an additional originator and consented to by NRG Receivables LLC, as Borrower, NRG Retail LLC, as Servicer, and Royal Bank of Canada, as administrative agent, to the Receivables Sale Agreement, dated as of September 22, 2020, among the Originators from time to time parties thereto, NRG Retail LLC, as Servicer, and NRG Receivables LLC. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the XBRL document.

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: June 21, 2024 NRG Energy, Inc. (Registrant) By: /s/ Christine A. Zoino Christine A. Zoino Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR