NRG Energy announced plans to raise up to $1.5 billion in new unsecured senior debt, alongside launching tender and exchange offers for APX Group's outstanding notes. The company aims to simplify its capital structure by transferring APX's debt to NRG while maintaining leverage neutrality.APX Group initiated a cash tender offer for all $600 million of its 6.75% senior secured notes due 2027, coupled with a consent solicitation to modify covenants and release collateral. Simultaneously, NRG commenced an exchange offer for APX's $800 million 5.75% senior notes due 2029, proposing to swap them for new NRG-issued notes and cash.The proceeds from the new financing will fund the tender offer, repay a portion of APX's term loan, and refinance NRG debt. These transactions will enable full integration of Vivint Smart Home into NRG's core portfolio while extending the maturity profile of consolidated debt. The tender offer expires on November 13, 2024, with an early tender deadline of October 28, 2024.

NRG Energy announced plans to raise up to $1.5 billion in new unsecured senior debt, alongside launching tender and exchange offers for APX Group's outstanding notes. The company aims to simplify its capital structure by transferring APX's debt to NRG while maintaining leverage neutrality.APX Group initiated a cash tender offer for all $600 million of its 6.75% senior secured notes due 2027, coupled with a consent solicitation to modify covenants and release collateral. Simultaneously, NRG commenced an exchange offer for APX's $800 million 5.75% senior notes due 2029, proposing to swap them for new NRG-issued notes and cash.The proceeds from the new financing will fund the tender offer, repay a portion of APX's term loan, and refinance NRG debt. These transactions will enable full integration of Vivint Smart Home into NRG's core portfolio while extending the maturity profile of consolidated debt. The tender offer expires on November 13, 2024, with an early tender deadline of October 28, 2024.