PRINCETON, N.J.--(BUSINESS WIRE)--Aug. 15, 2016--
NRG Yield Operating LLC (“Yield Operating”), a subsidiary of NRG Yield,
Inc. (NYSE: NYLD, NYLD.A) (“NRG Yield”), intends to commence an offering
of $350.0 million in aggregate principal amount of senior notes due 2026
(the “Notes”). The Notes will be senior unsecured obligations of Yield
Operating and will be guaranteed by NRG Yield LLC, Yield Operating’s
parent company, and by each of Yield Operating’s wholly owned current
and future subsidiaries that guarantees indebtedness under its credit
agreement.
Yield Operating intends to use the proceeds of the offering to repay all
outstanding cash borrowings under its revolving credit facility, and the
remaining net proceeds will be used for general corporate purposes,
including the funding of acquisitions and investments.
The Notes and related guarantees are being offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), or outside the United States
to persons other than “U.S. persons” in compliance with Regulation S
under the Securities Act. The Notes and related guarantees have not been
registered under the Securities Act or the securities laws of any other
jurisdiction and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This notice is issued pursuant to Rule 135c of the
Securities Act, and does not constitute an offer to sell, nor a
solicitation for an offer to purchase the Notes.
About NRG Yield
NRG Yield owns a diversified portfolio of contracted renewable and
conventional generation and thermal infrastructure assets in the United
States, including fossil fuel, solar and wind power generation
facilities that have the capacity to support more than two million
American homes and businesses. Our thermal infrastructure assets provide
steam, hot and/or chilled water, and in some instances electricity, to
commercial businesses, universities, hospitals and governmental units in
multiple locations. NRG Yield’s Class C and Class A common stock are
traded on the New York Stock Exchange under the symbols NYLD and NYLD.A,
respectively.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements are
subject to certain risks, uncertainties and assumptions and typically
can be identified by the use of words such as “expect,” “estimate,”
“anticipate,” “forecast,” “plan,” “believe” and similar terms. Although
NRG Yield believes that its expectations are reasonable, it can give no
assurance that these expectations will prove to be correct, and actual
results may vary materially. Factors that could cause actual results to
differ materially from those contemplated herein include, among others,
general economic conditions, hazards customary in the power industry,
weather conditions, including wind and solar performance, competition in
wholesale power markets, the volatility of energy and fuel prices,
failure of customers to perform under contracts, changes in the
wholesale power markets, changes in government regulation, the condition
of capital markets generally, our ability to access capital markets,
unanticipated outages at our generation facilities, adverse results in
current and future litigation, failure to identify or successfully
execute acquisitions, our ability to enter into new contracts as
existing contracts expire, our ability to acquire assets from NRG
Energy, Inc. or third parties, our ability to maintain or create
successful partnering relationships with NRG Energy, Inc. and other
third parties, our ability to close drop-down transactions, and our
ability to maintain and grow our quarterly dividends. Furthermore, any
dividends are subject to available capital, market conditions, and
compliance with associated laws and regulations.
NRG Yield undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The foregoing review of factors that could
cause NRG Yield’s actual results to differ materially from those
contemplated in the forward-looking statements included in this news
release should be considered in connection with information regarding
risks and uncertainties that may affect NRG Yield’s future results
included in NRG Yield’s filings with the Securities and Exchange
Commission at www.sec.gov.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160815005507/en/
Source: NRG Yield Operating LLC
NRG Yield Operating LLC
Media:
Karen Cleeve,
609-524-4608
Marijke Shugrue, 609-524-5262
or
Investors:
Kevin
L. Cole, CFA, 609-524-4526
Lindsey Puchyr, 609-524-4527
