Vistra Operations completes $4.0 billion senior notes offering due 2028-2036
Vistra Operations Company LLC, an indirect wholly owned subsidiary of Vistra Corp., completed a $4.0 billion private offering of senior notes on April 22, 2026, receiving about $3.97 billion in net proceeds. The company said it will use the proceeds, with cash on hand, to pay or redeem existing debt, including its Senior Notes due February 2027 and Term Loan B-3 Facility, and for general corporate purposes.
Key points
- Four series of notes totaling $4.0 billion, with coupons from 4.550% (2028) to 5.550% (2036)
- Net proceeds of about $3.97 billion after fees and expenses, including initial purchaser commissions and original issue discount
- Proceeds to refinance existing debt, including Senior Notes due February 2027 and Term Loan B-3 Facility
- Interest payable April 30 and October 30, starting October 30, 2026; maturities run from October 30, 2028 to April 30, 2036
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
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