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Vistra Energy declares private offering of US$800 million of senior notes

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World Coal,

Vistra Energy Corp. has announced the launch of a private offering of US$800 million aggregate principal amount of senior notes due 2026 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain non-US 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 purpose of the offering is:

  1. To fund a concurrently announced tender offer to purchase for cash its outstanding 7.375% senior notes due 2022, 7.625% senior notes due 2024, 8.034% senior notes due 2024, 8.000% senior notes due 2025, and 8.125% senior notes due 2026, in each case issued by Dynegy, as predecessor to Vistra Energy (collectively, the tender offer notes), subject to the relevant terms and conditions set forth in the offer to purchase related to the concurrent tender offer.
  2. To pay fees and expenses related to the offering and incurred in connection with the tender offer.
  3. For general corporate purposes.

The offering is not conditioned on the consummation of the tender offer. The tender offer is conditioned on, among other things, the consummation of the offering.

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.

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