Global law firm White & Case has advised NRG Energy, Inc. (NRG), a leading integrated power company, on increases to, and extension of, its approximately US$4.275 billion revolving credit facility.
The facility, which is comprised of a tranche (constituting the vast majority of revolving commitments) due February 2028 and smaller tranches due May 2024 and July 2023, replaced the LIBOR benchmark rate with SOFR, and made certain other amendments to provide additional flexibility to NRG.
NRG is a Fortune 500 company operating in the United States and Canada that provides energy solutions and natural gas to millions of customers through a diverse portfolio of retail brands.
The White & Case Debt Finance team was led by partners Rob Morrison (Los Angeles) and Eliza McDougall (New York), and included associates Arthur Nahas (New York) and Anna Molinari (Los Angeles). Law clerks Elizabeth Mitreski and Viraj Bathe assisted on the matter.
In connection with the transactions described above, White & Case also advised NRG on its US$2.6 billion acquisition of leading smart home platform company Vivint Smart Home, Inc., including the issuance of US$740.0 million of senior secured first lien notes and US$650.0 million of preferred stock related thereto.
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