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 December 17, 2024, Vistra Zero Operating Company, LLC (“Vistra Zero”) (as Borrower), an indirect subsidiary of Vistra Corp. (the “Company”), and the direct owner and operator of the Company’s 1.4 gigawatts of operating solar and battery storage facilities, entered into an amendment (the “Credit Agreement Amendment”) among Vistra Zero, the guarantors party thereto, the lenders party thereto and Citibank, N.A., as Administrative Agent and Collateral Agent, which amended that certain Credit Agreement, dated as of March 26, 2024 (as amended, supplemented or otherwise modified from time to time, including by the Credit Agreement Amendment, the “Credit Agreement”). Capitalized terms used but not defined herein have the meanings given to such terms in the Credit Agreement Amendment or the Credit Agreement, as applicable.
Pursuant to the Credit Agreement Amendment, effective as of December 17, 2024, the Credit Agreement was amended to, among other things, (i) reduce the interest rate margins applicable to each of ABR Loans and Term SOFR Loans by 75 basis points, (ii) remove the requirement for quarterly amortization payments, (iii) amend certain other provisions of the Credit Agreement, including, without limitation, increasing the permissible maximum incremental facilities amount and increasing capacity under certain negative covenant baskets and (iv) effect certain other conforming changes and modifications consistent with the foregoing.
A copy of the Credit Agreement Amendment is included as Exhibit 10.1 to this Current Report on Form 8-K (this “Current Report”) and is incorporated herein by reference. The above description of the Credit Agreement Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Credit Agreement Amendment.
| 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.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 10.1 | First Amendment to Credit Agreement, dated December 17, 2024, by and among Vistra Zero Operating Company, LLC, the guarantors party thereto, the lenders party thereto and Citibank, N.A. (as Administrative Agent and as Collateral Agent). | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document). | |
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: December 19, 2024 | /s/ William M. Quinn | |||||
| Name: | William M. Quinn | |||||
| Title: | Senior Vice President and Treasurer | |||||