Vistra Raises $4 B Through Private Senior Note Offerings at 4.55%–5.55% Rates
Vistra sold $4 billion of senior notes: $500 million due 2028 at 4.55%, $1 billion due 2031 at 5.00%, $1 billion due 2033 at 5.25% and $1.5 billion due 2036 at 5.55%. Proceeds will repay 2027 senior notes and Term Loan B-3, fund corporate purposes and pay fees, with closing expected April 22, 2026.
1. Offering Details
Vistra priced a private sale of $4 billion senior unsecured notes in four tranches: $500 million due 2028 at 4.55%, $1 billion due 2031 at 5.00%, $1 billion due 2033 at 5.25% and $1.5 billion due 2036 at 5.55%, each issued near par to qualified institutional buyers.
2. Use of Proceeds
The company will use the funds to repay or redeem its 2027 senior notes and Term Loan B-3 facility, support general corporate purposes and cover fees and expenses related to the note issuance.
3. Closing and Guarantees
The offering is expected to close on April 22, 2026, subject to customary conditions, with the notes fully and unconditionally guaranteed by key subsidiaries that also guarantee Vistra’s Credit Agreement.