Vistra Reports Increase in Credit Agreement -- EnergyChoiceMatters.com

Vistra Reports Increase in Credit Agreement

June 2, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Vistra filed an 8-K reporting an increase in a credit agreement

In the 8-K Vistra stated, "On May 26, 2022 (the 'Effective Date'), Vistra Operations Company LLC ('Vistra Operations') (in such capacity, 'Borrower'), entered into a second amendment (the 'Amendment') by and among the Borrower, Vistra Intermediate Company LLC ('Vistra Intermediate'), the other credit parties party thereto, the financial institutions providing new revolving credit commitments, the lenders party thereto, and Citibank, N.A, as administrative agent and collateral agent (in such capacity, the 'Agent'), to that certain credit agreement (as amended, the 'Credit Agreement'), dated as of February 4, 2022, by and among the Borrower, Vistra Intermediate, the lenders, joint lead arrangers and joint bookrunners party thereto, and the Agent, which agreement provides for a senior secured commodity-linked revolving credit facility (the 'Commodity-Linked Facility'). Pursuant to the Amendment, effective as of the Second Amendment Effective Date (as defined in the Amendment), the Total Revolving Credit Commitment (as defined in the Credit Agreement) under the Commodity-Linked Facility was increased from $2.0 billion to $2.2 billion. Pursuant to the Credit Agreement, we may further increase the Total Revolving Credit Commitment under the Commodity-Linked Facility, subject to our ability to obtain additional commitments, by an additional $800 million to $3.0 billion."

"Borrower intends to use the liquidity provided under the Commodity-Linked Facility to make cash postings as required under various commodity contracts to which Vistra Operations and its subsidiaries are parties as power prices increase from time to time and for other working capital and general corporate purposes," Vistra said in the filing

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