Vistra Operations Company LLC, a subsidiary of Vistra Corp., has completed a $1.25 billion senior secured notes offering on December 4, 2024. The offering consists of $500 million of 5.050% notes due 2026 and $750 million of 5.700% notes due 2034. The notes were sold through private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.The company raised approximately $1.24 billion in net proceeds, which will be used for general corporate purposes, including refinancing 2025 debt maturities and funding the early payout of purchase price installments to Avenue Capital Management. The notes are secured by first-priority security interest in substantial company assets and guaranteed by subsidiary guarantors.Interest payments will commence on June 30, 2025, with semi-annual payments thereafter. The notes include provisions for early redemption and mandatory repurchase upon a change of control event. The security interest may be released if the issuer's senior unsecured long-term debt achieves investment grade ratings from two rating agencies.

Vistra Operations Company LLC, a subsidiary of Vistra Corp., has completed a $1.25 billion senior secured notes offering on December 4, 2024. The offering consists of $500 million of 5.050% notes due 2026 and $750 million of 5.700% notes due 2034. The notes were sold through private placement to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.The company raised approximately $1.24 billion in net proceeds, which will be used for general corporate purposes, including refinancing 2025 debt maturities and funding the early payout of purchase price installments to Avenue Capital Management. The notes are secured by first-priority security interest in substantial company assets and guaranteed by subsidiary guarantors.Interest payments will commence on June 30, 2025, with semi-annual payments thereafter. The notes include provisions for early redemption and mandatory repurchase upon a change of control event. The security interest may be released if the issuer's senior unsecured long-term debt achieves investment grade ratings from two rating agencies.