NRG Yield, Inc. Announces Pricing of Offering of Class A Common Stock

PRINCETON, N.J.--()--NRG Yield, Inc. (NYSE: NYLD) ("NRG Yield" or the "Company") today announced it has priced the previously announced public offering of 10,500,000 shares of its Class A common stock at a price of $54.00 per share. In addition, the underwriters have a 30-day option to purchase up to an additional 1,575,000 shares of common stock from the Company at the public offering price.

The Company intends to use all of the net proceeds of the offering to acquire newly issued Class A units of NRG Yield LLC (“Yield LLC”). Yield LLC intends to use the net proceeds of the offering, together with cash on hand and the proceeds from newly issued debt securities to fund the aggregate $870 million cash purchase price of the previously announced acquisition of the Alta Wind Facility (the “Alta Acquisition”). However, the offering is not conditioned upon the completion of the Alta Acquisition, and, to the extent the Alta Acquisition is not completed, Yield LLC will use the net proceeds from the offering for general corporate purposes, including to fund other acquisition opportunities that may become available to the Company.

BofA Merrill Lynch, Citigroup, Morgan Stanley, Barclays and Goldman, Sachs & Co. are acting as joint book runners for the offering. Credit Suisse, Deutsche Bank Securities, KeyBanc Capital Markets, MUFG and RBC Capital Markets are acting as co-managers.

The offering of Class A common stock will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department or by emailing dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email batprospectusdept@citi.com, telephone 1.800.831.9146; Morgan Stanley, Morgan Stanley Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling 1.888.603.5847 or by emailing barclaysprospectus@broadridge.com; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1.866.471.2526, facsimile: 1.212.902.9316 or by emailing prospectus-ny@ny.email.gs.com.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 22, 2014. The registration statement can be accessed through the Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NRG Yield

NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the U.S., including fossil fuel, solar and wind power generation facilities that provide the capacity to support more than 1.5 million American homes and businesses. Our thermal infrastructure assets provide steam, hot water and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in multiple locations. NRG Yield is traded on the New York Stock Exchange under the symbol NYLD. Visit nrgyield.com for more information.

Forward-Looking Statement

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as “expect,” “estimate,” “should,” “anticipate,” “forecast,” “plan,” “guidance,” “believe” and similar terms. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, strategy, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.

Although NRG Yield, Inc. believes that the expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, weather conditions, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, the condition of capital markets generally, our ability to access capital markets, unanticipated outages at our generation facilities, adverse results in current and future litigation, failure to successfully close the Alta Wind acquisition (including receipt of third-party consents and regulatory approvals), failure of NRG Energy, Inc. to ultimately offer assets to us that have been identified eligible for acquisition, our ability to enter into new contracts as existing contracts expire, and our ability to maintain and grow our quarterly dividends.

NRG Yield undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG Yield’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG Yield’s future results included in NRG Yield’s filings with the Securities and Exchange Commission at www.sec.gov.

Contacts

NRG Yield
Media:
Karen Cleeve, 609.524.4608
or
Investors:
Chad Plotkin, 609.524.4526
Daniel Keyes, 609.524.4527

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Contacts

NRG Yield
Media:
Karen Cleeve, 609.524.4608
or
Investors:
Chad Plotkin, 609.524.4526
Daniel Keyes, 609.524.4527