MINNEAPOLIS, Minn., Oct. 26, 2000 (BUSINESS WIRE) NRG Northeast Generating LLC has begun an offer to exchange some outstanding secured bonds, to be available until Nov. 27.
The subsidiary of NRG Energy is offering to exchange all of its outstanding 8.065% Series A Senior Secured Bonds due 2004, 8.842% Series B Senior Secured Bonds due 2015, and 9.292% Series C Senior Secured Bonds due 2024 for 8.065% Series A-1 Senior Secured Bonds due 2004, 8.842% Series B-1 Senior Secured Bonds due 2015, and 9.292% Series C-1 Senior Secured Bonds due 2024 that have been registered under the Securities Act of 1933, as amended.
NRG Northeast Generating LLC owns, through its family of subsidiaries, a total of 10 fossil fuel-fired and six remote gas turbine electric power generation plants in Connecticut, Massachusetts and New York. The plants provide nearly 6,500 MW of capable generating capacity.
The company is a major owner of independent electric power generation in terms of net megawatts of generating capacity in the northeastern region of the U.S. It is an indirect and wholly owned subsidiary of NRG Energy, Inc., which has made a net investment of approximately $921 million in NRG Northeast as of June 30, 2000.
The parent company NRG Energy is a leading global energy company primarily engaged in the acquisition, development, construction, ownership and operation of power generation facilities. NRG owns all or a portion of 63 power generation projects and its net ownership interest in these projects exceeds 14,000 MW.