PRINCETON, N.J.--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) has priced its offering of $1,250 million in aggregate principal amount (an increase of $250 million over the amount previously announced) of 6.625% senior notes due 2027. The New Notes will be senior unsecured obligations of NRG and will be guaranteed by certain of its subsidiaries.

The New Notes mature on January 15, 2027. The offering is expected to close on August 2, 2016, subject to customary conditions.

NRG intends to use the net proceeds from the offering, together with cash on hand, to redeem all of its outstanding 8.25% senior notes due 2020 (the “2020 Notes”) and a portion of its outstanding 7.875% senior notes due 2021 (the “2021 Notes”) in accordance with their terms and to pay fees and expenses related to the offering of the New Notes and incurred in connection with the redemption of the 2020 Notes and the 2021 Notes.

About NRG

NRG is the leading integrated power company in the U.S., built on the strength of the nation’s largest and most diverse competitive electric generation portfolio and leading retail electricity platform. A Fortune 200 company, NRG creates value through best in class operations, reliable and efficient electric generation, and a retail platform serving residential and commercial businesses. Working with electricity customers, large and small, we continually innovate, embrace and implement sustainable solutions for producing and managing energy. We aim to be pioneers in developing smarter energy choices and delivering exceptional service as our retail electricity providers serve almost 3 million residential and commercial customers throughout the country.