Vistra Corp. said the proceeds from the private offer will be used toward an early payout for the installment purchase of Avenue Capital Management II’s interest in Vistra Vision. (Source: Shutterstock)
Vistra Corp. launched a private offer of senior secured notes due 2026 and 2034 to refinance outstanding indebtedness, according to a Nov. 19 press release.
The power generation company said the proceeds from the offer will be used toward general corporate purposes, including an early payout for the installment purchase of Avenue Capital Management II’s interest in Vistra Vision.
On Sept. 18, Vistra announced it was purchasing a 15% equity interest in Vistra Vision, which was jointly owned by Avenue and Nuveen Asset Management, for a discounted rate of $3.05 billion.
The deal was previously set to be paid in five installments between Dec. 31 and year-end 2026.
However, the company said the installment payments to Avenue, which total approximately $550 million, will be completely settled in exchange for a one-time payment of approximately $506 million to Avenue on Dec. 31.
The notes offering, coupled with the early installment payout, “represents an opportunistic leverage-neutral and NPV-positive transaction,” Vistra said in the release.
Recommended Reading
Pontem Energy Capital Aims to Raise $250MM for New Upstream Fund
2025-07-15 - Pontem Energy Capital held an initial close for its second fund, which is targeting $250 million in commitments for non-operated investments in U.S. basins.
Blackstone Announces $25B Investment in Pennsylvania Energy, AI
2025-07-15 - The firm has focused funds on data center development in the northeast area of the state.
Dividends Declared During the Week of July 7
2025-07-11 - Here is a compilation of dividends declared during the week of July 7 from select midstream and service and supply companies.
Fed: Oklahoma, Rockies E&P, OFS Outlooks Declined in 2Q
2025-07-11 - The quarter-over-quarter drilling and business activity index fell to -17 from 7 in the first quarter and -13 in the fourth quarter, the Kansas City Fed reported.
Investment Trends: Family Offices, PE Bet Big on NatGas
2025-07-10 - From shale’s boom to today’s consolidation wave, Stephens' Keith Behrens discusses disciplined capital, M&A drivers and why long-term investors are shifting toward gas-focused plays.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.