NRG Energy to repurchase $229 million 8% notes

By Jennifer Chiou

New York, Aug. 9 - NRG Energy Inc. said it will buy back about $229 million of its 8% notes at 108%.

The company will use the proceeds of a $250 million offering of perpetual preferred stock to repurchase the notes.

NRG will also repurchase $250 million of its outstanding stock from an affiliate of Credit Suisse First Boston LLC with cash.

After the note buyback, the Princeton, N.J., power generation facility operator will have redeemed $645 million of the 8% notes this year.

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