in News Departments > New & Noteworthy
print the content item

NRG Yield Inc. has closed the previously announced public offering of Class A common stock, the proceeds from which the company plans to use to help buy the 947 MW Alta Wind Energy Center (AWEC) in California.

NRG Yield, a yieldco subsidiary of NRG Energy, closed the offering of 10.5 million Class A common stock shares at a price to the public of $54.00 each. Furthermore, the underwriters exercised in full their option to purchase an additional 1.575 million shares at the offering price less the underwriting discount. As a result, the total offering size was 12.075 shares of Class A common stock.

NRG says it intends to use all of the net proceeds of the offering to fund the $870 million acquisition of the AWEC from Terra-Gen Power. However, the offering is not conditioned upon the completion of the AWEC acquisition, and if that deal is not closed, NRG will use the net proceeds from the offering for general corporate purposes, including to fund other acquisition opportunities.

NRG Yield Operating, an indirect subsidiary of NRG Yield, also recently announced plans to commence an offering of $400 million of senior notes due 2024. NRG said it intends to use those proceeds to help fund the AWEC acquisition as well.

BofA Merrill Lynch, Citigroup, Morgan Stanley, Barclays, and Goldman, Sachs & Co. acted as joint book runners for the offering. Credit Suisse, Deutsche Bank Securities, KeyBanc Capital Markets, MUFG and RBC Capital Markets acted as co-managers.




Trachte Inc._id1770
Latest Top Stories

Wind Energy Dominates New U.S. Power In October

Data from the Federal Energy Regulatory Commission shows that wind power accounted for over two-thirds of the country's new electricity generating capacity in last month.


Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?

Renewable NRG_id1934
Hybrid Energy Innovations 2015