NRG Energy, Inc. (NYSE: NRG) completed on March 10, 2023 its acquisition of Vivint Smart Home, Inc. Latham represented the initial purchasers in simultaneous offerings of US$740.0 million aggregate principal amount of 7.000% Senior Secured First Lien Notes due 2033 and 650,000 shares of 10.25% Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock as partial financing for the transaction. Latham also represented the lenders in connection with an amendment increasing NRG’s revolving credit facility by US$500.0 million to support the transaction.
Partners Dan Seale and Nicole Fanjul and counsel Clever Gallegos led the Latham banking team, with associates Lillian Xiao, and Sarah Lohschelder, while partner Keith Halverstam and counsel Ryan deFord led the capital markets team, with associates Simon Cooke and Ian Lachow. Advice was also provided on energy regulatory matters by Washington, D.C. partner Tyler Brown, with associate Jamie Blackburn; and on environmental matters by New York counsel David Langer.
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