White & Case advises on Vistra’s US$1.75 billion secured notes and unsecured notes offerings

Global law firm White & Case LLP has advised a syndicate of leading financial institutions on concurrent offerings by Vistra Operating Company LLC, a wholly-owned subsidiary of Vistra Corp. ("Vistra"), of US$650 million 6.950% senior secured notes due 2033 (the "Secured Notes") and US$1.1 billion 7.750% senior unsecured notes due 2031 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes") to eligible purchasers pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. 

Vistra intends to use the proceeds from the offerings of the Notes (i) to fund the cash component of the acquisition of Energy Harbor Corp., (ii) for general corporate purposes, including to refinance outstanding indebtedness, and/or (iii) to pay fees and expenses related to the offerings of the Notes.

The closing of the offerings of the Notes is expected to occur on September 26, subject to customary closing conditions. 

Vistra is a leading Fortune 500 retail electricity and power generation company based in Irving, Texas, providing essential resources for customers, commerce and communities.

The White & Case team was led by partners Jonathan Michels (New York), Rob Morrison (Los Angeles) and Eric Leicht (New York) and associates Annie Serafim (Boston), Elizabeth Mapelli, Jeffrey Kim and Tyler Mckenna (New York). The team also included associates Evan Rahn (Chicago), Iris Ma (Silicon Valley) and Marquis Cardwell (Los Angeles).

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