NRG Yield, Inc. announced that it has completed its previously announced recapitalization, whereby its new Class C common stock was distributed to holders of the Class A common stock through a split of each outstanding share of Class A common stock into one share of Class A common stock and one share of Class C common stock that became effective after the close of the market on May 14, 2015. The Class A common stock will continue to trade on the New York Stock Exchange (“NYSE”) under a new symbol “NYLD.A” and the new Class C common stock will begin trading today on the NYSE under the original symbol “NYLD.”

 

In connection with the stock split, NRG Yield announced an adjustment to the conversion rate of its 3.50% Convertible Senior Notes due 2019 (the “Notes”). The new conversion rate is 42.9644 shares of Class A common stock per $1,000 principal amount of Notes, and is effective immediately after the opening of business on May 15, 2015. The initial conversion rate was adjusted pursuant to Section 11.05(c)(i) of the indenture governing the Notes and effectively doubled to reflect the split. Notice of the conversion rate adjustment has been delivered to the holders of the Notes.

 

NRG Yield

www.nrgyield.com