Vistra upsizes facility to $1.25 billion for liquidity after storm

Chicago, April 5 – Vistra Corp. subsidiary Vistra Operations Co. LLC entered into a 364-day term loan credit agreement on March 29 that was upsized three days later on April 1 to $1.25 billion when Citibank, NA joined as an additional lender to the original agreement, according to an 8-K filing with the Securities and Exchange Commission.

The additional amount was borrowed as a precautionary measure for additional liquidity due to the short-term financial impacts of Winter Storm Uri.

Interest on the loan has an interest rate of Libor plus 162.5 basis points with a 1% Libor floor.

Royal Bank of Canada is the administrative agent and the collateral agent.

RBC Capital Markets, Credit Suisse Loan Funding, LLC, Goldman Sachs Bank USA and JPMorgan Chase Bank, NA are joint lead arrangers and joint bookrunners. As mentioned above, Citibank joined as a lender on April 1.

The agreement was initially for $1 billion before the upsizing.

Vistra is an Irving, Tex.-based power generator and retail electric provider.

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