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Press release from Business Wire

NRG Energy, Inc. and NRG Yield, Inc. Announce Closing of Initial Public Offering of NRG Yield, Inc. and Exercise of Underwriters' Option to Purchase Additional Shares

Monday, July 22, 2013

NRG Energy, Inc. and NRG Yield, Inc. Announce Closing of Initial Public Offering of NRG Yield, Inc. and Exercise of Underwriters' Option to Purchase Additional Shares

17:53 EDT Monday, July 22, 2013

PRINCETON, N.J. (Business Wire) -- NRG Energy, Inc. (NYSE: NRG) and NRG Yield, Inc. (“NRG Yield”), today announced that NRG Yield, a subsidiary of NRG Energy, Inc., has closed its previously announced initial public offering of 19,575,000 shares of its Class A common stock at a price of $22.00 per share. In connection with the initial public offering, the underwriters exercised in full their option to purchase an additional 2,936,250 shares of Class A common stock from NRG Yield. As a result, the total initial public offering size was 22,511,250 shares. NRG Yield is listed on the New York Stock Exchange under the ticker “NYLD.”

NRG Yield received proceeds, net of underwriting discounts and commissions, of approximately $468 million from the offering. NRG Yield intends to use the net proceeds of this offering to purchase a portion of the equity interests in NRG Yield LLC, which holds the NRG Yield assets, from NRG Energy, Inc. NRG Yield LLC intends to use the proceeds received for general corporate purposes.

Concurrent with the closing of the initial public offering, NRG Yield Operating LLC, an indirect subsidiary of NRG Yield, entered into a $60 million revolving credit facility, which has not been drawn.

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

The offering of Class A common stock was made only by means of a final prospectus. Copies of the final prospectus related to the offering may be obtained from BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing dg.prospectus_requests@baml.com; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282 or by emailing prospectus-ny@ny.email.gs.com; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email batprospectusdept@citi.com, telephone 1-800-831-9146.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 16, 2013. The registration statement can be accessed through the Commission's website at www.sec.gov. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 any such state or jurisdiction.

Forward-Looking Statements

This communication contains forward-looking statements that may state NRG's or its management's intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.

NRG
Media:
Karen Cleeve, 609-524-4608
Karen.cleeve@nrgenergy.com
or
David Knox, 713-537-2130
David.knox@nrgenergy.com
or
Investors:
Chad Plotkin, 609-524-4526
chad.plotkin@nrgenergy.com

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