IRVING, Texas,
Jan. 22, 2019
/PRNewswire/ -- Vistra Energy Corp. (NYSE: VST) (the
"Company" or "Vistra Energy") announced today the launch of a
private offering (the "Offering") of $700
million aggregate principal amount of senior notes due
2027 (the "Notes") to qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act"), and to certain non-U.S.
persons in accordance with Regulation S under the Securities
Act. The Notes will be senior, unsecured obligations of
Vistra Operations Company LLC, a Delaware limited liability company and an
indirect, wholly owned subsidiary of the Company (the "Issuer").
The Notes will be fully and unconditionally guaranteed by certain
of the Issuer's current and future subsidiaries.
The Company intends to use the proceeds of the Offering
(i) to purchase and/or redeem for cash outstanding 7.375% Senior
Notes due 2022 issued by Dynegy Inc., as predecessor to Vistra
Energy, (ii) to pay fees and expenses related to the Offering and
(iii) for general corporate purposes.
The Notes will not be registered under the Securities Act
or any state securities laws and may not be offered or sold in
the United States absent
registration or an applicable exemption from such registration
requirements.
This press release shall not constitute an offer to sell
or a solicitation of an offer to buy the securities described
above, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction.
Media
Allan
Koenig
214-875-8004
Media.Relations@vistraenergy.com
Analysts
Molly Sorg
214-812-0046
Investor@vistraenergy.com
About Vistra Energy
Vistra Energy
(NYSE: VST) is a premier, integrated power company based in
Irving, Texas, combining an
innovative, customer-centric approach to retail with a focus on
safe, reliable, and efficient power generation. Through its retail
and generation businesses which include TXU Energy, Homefield
Energy, Dynegy, and Luminant, Vistra operates in 12 states and six
of the seven competitive markets in the U.S., with about 5,400
employees. Vistra's retail brands serve approximately 2.9 million
residential, commercial, and industrial customers across five top
retail states, and its generation fleet totals approximately 41,000
megawatts of highly efficient generation capacity, with a diverse
portfolio of natural gas, nuclear, coal, solar and battery storage
facilities. The company is currently developing the largest
battery energy storage system of its kind in the world – a
300-MW/1,200-MWh system in Moss Landing,
California.
Cautionary Note Regarding Forward-Looking
Statements
The information presented herein
includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Exchange Act, as amended. These forward-looking statements, which
are based on current expectations, estimates and projections about
the industry and markets in which Vistra Energy Corp. ("Vistra
Energy") operates and beliefs of and assumptions made by Vistra
Energy's management, involve risks and uncertainties, which are
difficult to predict and are not guarantees of future performance,
that could significantly affect the financial results of Vistra
Energy. All statements, other than statements of historical facts,
that are presented herein, or in response to questions or
otherwise, that address activities, events or developments that may
occur in the future, including such matters as activities related
to our financial or operational projections, projected synergy,
value lever and net debt targets, capital allocation, capital
expenditures, liquidity, projected Adjusted EBITDA to free cash
flow conversion rate, dividend policy, business strategy,
competitive strengths, goals, future acquisitions or dispositions,
development or operation of power generation assets, market and
industry developments and the growth of our businesses and
operations (often, but not always, through the use of words or
phrases, or the negative variations of those words or other
comparable words of a future or forward-looking nature, including,
but not limited to, "intends," "plans," "will likely," "unlikely,"
"believe," "expect," "seek," "anticipate," "estimate," "continue,"
"will," "shall," "should," "could," "may," "might," "predict,"
"project," "forecast," "target," "potential," "forecast," "goal,"
"objective," "guidance" and "outlook"),are forward-looking
statements. . Readers are cautioned not to place undue reliance on
forward-looking statements. Although Vistra Energy believes that in
making any such forward-looking statement, Vistra Energy's
expectations are based on reasonable assumptions, any such
forward-looking statement involves uncertainties and risks that
could cause results to differ materially from those projected in or
implied by any such forward-looking statement, including but not
limited to (i) the effect of the merger (the "Merger") on Vistra
Energy's relationships with Vistra Energy's and Dynegy Inc.'s
("Dynegy") respective customers and their operating results and
businesses generally (including the diversion of management time on
integration-related issues); (ii) the risk that the credit ratings
of the combined company or its subsidiaries are different from what
Vistra Energy expects; (iii) adverse changes in general economic or
market conditions (including changes in interest rates) or changes
in political conditions or federal or state laws and regulations;
(iv) the ability of Vistra Energy to execute upon the contemplated
strategic and performance initiatives (including the risk that
Vistra Energy's and Dynegy's respective businesses will not be
integrated successfully or that the cost savings, synergies and
growth from the Merger will not be fully realized or may take
longer than expected to realize); and (v) those additional risks
and factors discussed in reports filed with the Securities and
Exchange Commission ("SEC") by Vistra Energy from time to time,
including the uncertainties and risks discussed in the sections
entitled "Risk Factors" and "Forward-Looking Statements" in Vistra
Energy's quarterly report on Form 10-Q for the fiscal quarter ended
June 30, 2018.
Any forward-looking statement speaks only at the date on
which it is made, and except as may be required by law, Vistra
Energy will not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which it is made or to reflect the occurrence of
unanticipated events. New factors emerge from time to time, and it
is not possible to predict all of them; nor can Vistra Energy
assess the impact of each such factor or the extent to which any
factor, or combination of factors, may cause results to differ
materially from those contained in any forward-looking
statement.
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SOURCE Vistra Energy