NRG Energy entered into an amendment of its second amended and restated credit agreement to increase the existing revolving commitments in an aggregate amount of $779 million and provide for a new tranche of revolving commitments in an aggregate amount of $258 million with a maturity date that is 30 months after the closing of its acquisition of Direct Energy, subject to certain potential extensions.
Citigroup Global Markets and Credit Suisse Loan Funding acted as joint lead arrangers in connection with the Amendment.
The increase in the existing commitments and the commitments with respect to the new tranche will only become available upon the date of such closing. As a result, upon the closing date, the total revolving commitments available, subject to usage, under NRG’s revolving credit facility will equal $3.64 billion. This increase potentially reduces the need for other liquidity facilities associated with the proposed acquisition of Direct Energy.
