NRG Yield Expects To Price IPO In $19 - $21 Per Share Range - Quick Facts

(RTTNews) - NRG Energy Inc. (NRG), announced that its wholly owned subsidiary, NRG Yield, Inc. has commenced an initial public offering of shares of its Class A common stock. NRG Yield is offering about 19.58 million shares of its Class A common stock to the public. In addition, the underwriters have a 30-day option to purchase up to an additional about 2.94 million shares of the Class A common stock from NRG Yield at the initial public offering price, less underwriting discounts and commissions.

The company currently expects that initial public offering price to be between $19.00 and $21.00 per share of Class A common stock. Application has been made to list the Class A common stock of NRG Yield on the New York Stock Exchange under the symbol "NYLD."

The company noted that NRG Yield intends to use a portion of 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 a portion of such proceeds for general corporate purposes.

BofA Merrill Lynch, Goldman, Sachs & Co. and Citi are acting as joint book runners. Barclays, KeyBanc Capital Markets, Mitsubishi UFJ Securities, RBC Capital Markets, Credit Suisse and Deutsche Bank Securities are acting as co-managers.