Reliant Resources to pay down bank debt with $550 million note, convertible sales

By Sara Rosenberg

New York, June 17 - Reliant Resources Inc. plans on using proceeds from a $350 million senior secured notes offering and a $200 million convertible senior subordinated notes offering to repay indebtedness under its existing credit facility.

Furthermore, proceeds from the convertible offering will also be used by the Houston energy company for general corporate purposes or for the possible acquisition of Texas Genco Holdings, Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.