NRG Yield Operating, an indirect subsidiary of NRG Yield, has closed its previously announced offering of $500 million of 5.375% senior notes due 2024. The notes will be senior unsecured obligations of Yield Operating and guaranteed by NRG Yield.
Yield Operating intends to use the proceeds of the offering to fund, in whole or in part, the previously announced $870 million purchase of the 947 MW Alta Wind Energy Center (AWEC) in California from Terra-Gen Power. NRG Yield, parent company of Yield Operating and a yieldco subsidiary of New Jersey-based NRG Energy, also recently closed an offering of 10.5 million shares of its Class A common stock to help fund the AWEC buy.
