NRG Yield adjusts conversion rate of 3.5% notes after stock split

By Susanna Moon

Chicago, May 15 – NRG Yield, Inc. said it adjusted the conversion rate of its 3.5% convertible senior notes due 2019 as a result of a stock split.

The new conversion rate is 42.9644 shares of class A common stock per $1,000 principal amount of notes, effective Friday.

The company completed its recapitalization, in which its new class C common stock was distributed to holders of the class A common stock through a split of each outstanding share of class A common stock into one share of class A common stock and one share of class C common stock that became effective after the close of the market on May 14, according to a company press release.

NRG Yield is a Princeton, N.J., generator of renewable and conventional energy.

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