Vistra Corp. filed SEC Form 8-K: Entry into a Material Definitive Agreement
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Item 1.01. Entry into a Material Definitive Agreement.
On October 2, 2024, Vistra Operations Company LLC (“Borrower”), an indirect, wholly owned subsidiary of Vistra Corp. (the “Company”), entered into an amendment (the “Credit Agreement Amendment”) to that certain credit agreement (as amended, including by the Credit Agreement Amendment, the “Commodity Linked Credit Agreement”), dated as of February 4, 2022, by and among Borrower, Vistra Intermediate Company LLC (“Vistra Intermediate”), Citibank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and collateral agent (in such capacity, the “Collateral Agent” and together with the Administrative Agent, the “Agent”), the financial institutions from time to time party thereto, as lenders (the “Lenders”) and letter of credit issuers, and the other parties party thereto.
Pursuant to the Credit Agreement Amendment, effective as of October 2, 2024, the Credit Agreement was amended to, among other things, (i) extend the Revolving Credit Maturity Date (as defined in the Commodity Linked Credit Agreement) from October 2, 2024 to October 1, 2025, (ii) provide for additional Revolving Credit Commitments by certain Lenders, which constitutes an increase in the existing Revolving Credit Commitments from $1.575 billion to $1.750 billion and which is subject to the same prepayment provisions, Revolving Credit Termination Date (as defined in the Commodity Linked Credit Agreement) and other terms and conditions applicable to the existing Revolving Credit Commitments and Revolving Credit Loans (as defined in the Commodity Linked Credit Agreement) under the Commodity Linked Credit Agreement, (iii) modify the definitions of Deemed Hedge Portfolio and MTM Amount (each as defined in the Commodity Linked Credit Agreement), and (iv) effect certain other conforming changes and modifications consistent with the foregoing.
The foregoing summary of the Credit Agreement Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Credit Agreement Amendment, a copy of which will be filed with the Company’s next periodic report.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report concerning the Company’s direct financial obligations under the Credit Agreement Amendment is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Vistra Corp. | ||||||
| Dated: October 7, 2024 | /s/ William M. Quinn | |||||
| Name: | William M. Quinn | |||||
| Title: | Senior Vice President and Treasurer | |||||