Vistra Energy selling $700 million eight-year notes on Tuesday; initial talk 5¾% area

By Paul A. Harris

Portland, Ore., Jan. 22 – Vistra Energy Corp. plans to price a $700 million offering of eight-year senior notes (Ba3/BB) in a Tuesday drive-by, according to market sources.

Initial guidance has the deal coming with a yield in the 5¾% area, a trader said.

J.P. Morgan Securities LLC is the lead.

The notes come with three years of call protection.

The Irving, Texas-based integrated power company plans to use the proceeds to purchase and/or redeem the Dynegy Inc. 7 3/8% senior notes due 2022, and for general corporate purposes.

Vistra Energy completed its merger with Dynegy in April 2018.

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