Vistra launches registered offering of junior subordinated notes

Vistra launched an underwritten registered public offering of multiple series of junior subordinated unsecured notes.

The issuer is Vistra Operations Company; the notes are irrevocably and unconditionally guaranteed by Vistra.

Proceeds are earmarked for general corporate purposes, including funding redemptions of 8% Series A preferred stock.

Use of proceeds also includes potential redemption of 7% Series B fixed-rate reset cumulative redeemable green perpetual preferred stock.

Redemptions are targeted upon or following five-year reset dates in October 2026 and December 2026.