Vistra Announces $1.5 Billion Public Offering of Junior Subordinated Notes
Vistra Corp (NYSE: VST) announced a public offering of $1.5 billion in junior subordinated notes, split into two series with maturities extending to 2057. The Series A and B notes will carry initial interest rates of 7% and 7.25%, respectively. Proceeds from the offering are intended for general corporate purposes, including potential redemptions of outstanding preferred stock in late 2026. The company plans to invest unutilized proceeds until deployment into short-term interest-bearing accounts or securities. The notes will be issued by Vistra Operations Company LLC and guaranteed by Vistra Corp itself. The offering is expected to close on September 24, subject to customary conditions. Barclays, BofA Securities, Mizuho, MUFG, and Truist are among the book-running managers. VST stock rose about 1% in premarket trading as broader market sentiment improved. While showing some short-term recovery from summer lows, Vistra remains below key long-term moving averages like its 200-day SMA of $157.38.
Tickers: $VST
Topics: corporate_finance preferred_stock_redemption stock_performance