Vistra to hold call for term loan B-2 repricing on Tuesday

New York, Jan. 22 – Vistra Operations Co. LLC plans to launch a repricing of its $992 million term loan B-2 with a lender call 12 p.m. ET on Tuesday, according to a market source.

The repriced loan (Ba2/BB+) is talked at Libor plus 225 basis points with a 25 bps step down if the company achieves a corporate rating from Moody’s Investors Service of Ba1 or better.

As part of the repricing, the Libor floor will be cut to 0% from 0.75% at present.

The repriced loan is offered at par.

The maturity date is Dec. 14, 2023 and there is 101 soft call protection for six months.

Deutsche Bank, Barclays, Citigroup, Credit Suisse, Goldman Sachs, RBC Capital Markets, Natixis and UBS are bookrunners.

Commitments are due on Jan. 26 and closing is planned for Feb. 20.

Vistra, formerly known as Texas Competitive Electric Holdings Co. LLC, is a Dallas-based power generator and retail electric provider.

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