IRVING, Texas, Jan. 22, 2019 /PRNewswire/ -- Vistra
Energy Corp. (NYSE: VST) (the "Company" or "Vistra Energy") announced today the launch of a private offering (the "Offering") of
$700 million aggregate principal amount of senior notes due 2027 (the
"Notes") to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities
Act"), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes will be senior,
unsecured obligations of Vistra Operations Company LLC, a Delaware limited liability company and
an indirect, wholly owned subsidiary of the Company (the "Issuer"). The Notes will be fully and unconditionally guaranteed by
certain of the Issuer's current and future subsidiaries.
The Company intends to use the proceeds of the Offering (i) to purchase and/or redeem for cash outstanding 7.375% Senior
Notes due 2022 issued by Dynegy Inc., as predecessor to Vistra Energy, (ii) to pay fees and expenses related to the Offering and
(iii) for general corporate purposes.
The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in
the United States absent registration or an applicable exemption from such registration
requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described
above, 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 such state or jurisdiction.
Media
Allan Koenig
214-875-8004
Media.Relations@vistraenergy.com
Analysts
Molly Sorg
214-812-0046
Investor@vistraenergy.com
About Vistra Energy
Vistra Energy (NYSE: VST) is a premier, integrated power company based in Irving, Texas, combining an innovative, customer-centric approach to retail with a focus on safe, reliable,
and efficient power generation. Through its retail and generation businesses which include TXU Energy, Homefield Energy, Dynegy,
and Luminant, Vistra operates in 12 states and six of the seven competitive markets in the U.S., with about 5,400 employees.
Vistra's retail brands serve approximately 2.9 million residential, commercial, and industrial customers across five top retail
states, and its generation fleet totals approximately 41,000 megawatts of highly efficient generation capacity, with a diverse
portfolio of natural gas, nuclear, coal, solar and battery storage facilities. The company is currently developing the
largest battery energy storage system of its kind in the world – a 300-MW/1,200-MWh system in Moss
Landing, California.
Cautionary Note Regarding Forward-Looking Statements
The information presented herein includes forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange
Act, as amended. These forward-looking statements, which are based on current expectations, estimates and projections about the
industry and markets in which Vistra Energy Corp. ("Vistra Energy") operates and beliefs of and assumptions made by Vistra
Energy's management, involve risks and uncertainties, which are difficult to predict and are not guarantees of future
performance, that could significantly affect the financial results of Vistra Energy. All statements, other than statements of
historical facts, that are presented herein, or in response to questions or otherwise, that address activities, events or
developments that may occur in the future, including such matters as activities related to our financial or operational
projections, projected synergy, value lever and net debt targets, capital allocation, capital expenditures, liquidity, projected
Adjusted EBITDA to free cash flow conversion rate, dividend policy, business strategy, competitive strengths, goals, future
acquisitions or dispositions, development or operation of power generation assets, market and industry developments and the
growth of our businesses and operations (often, but not always, through the use of words or phrases, or the negative variations
of those words or other comparable words of a future or forward-looking nature, including, but not limited to, "intends,"
"plans," "will likely," "unlikely," "believe," "expect," "seek," "anticipate," "estimate," "continue," "will," "shall," "should,"
"could," "may," "might," "predict," "project," "forecast," "target," "potential," "forecast," "goal," "objective," "guidance" and
"outlook"),are forward-looking statements. . Readers are cautioned not to place undue reliance on forward-looking statements.
Although Vistra Energy believes that in making any such forward-looking statement, Vistra Energy's expectations are based on
reasonable assumptions, any such forward-looking statement involves uncertainties and risks that could cause results to differ
materially from those projected in or implied by any such forward-looking statement, including but not limited to (i) the effect
of the merger (the "Merger") on Vistra Energy's relationships with Vistra Energy's and Dynegy Inc.'s ("Dynegy") respective
customers and their operating results and businesses generally (including the diversion of management time on integration-related
issues); (ii) the risk that the credit ratings of the combined company or its subsidiaries are different from what Vistra Energy
expects; (iii) adverse changes in general economic or market conditions (including changes in interest rates) or changes in
political conditions or federal or state laws and regulations; (iv) the ability of Vistra Energy to execute upon the contemplated
strategic and performance initiatives (including the risk that Vistra Energy's and Dynegy's respective businesses will not be
integrated successfully or that the cost savings, synergies and growth from the Merger will not be fully realized or may take
longer than expected to realize); and (v) those additional risks and factors discussed in reports filed with the Securities and
Exchange Commission ("SEC") by Vistra Energy from time to time, including the uncertainties and risks discussed in the sections
entitled "Risk Factors" and "Forward-Looking Statements" in Vistra Energy's quarterly report on Form 10-Q for the fiscal quarter
ended June 30, 2018.
Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, Vistra
Energy will not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the
date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is
not possible to predict all of them; nor can Vistra Energy assess the impact of each such factor or the extent to which any
factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking
statement.
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SOURCE Vistra Energy