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Vistra Corp completes major secured notes financing

Story Highlights
  • Vistra Operations raised $2.25 billion via senior secured notes on January 22, 2026.
  • Net proceeds will help fund the Cogentrix acquisition and refinance existing debt obligations.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Vistra Corp completes major secured notes financing

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Vistra Corp ( (VST) ) has shared an announcement.

On January 22, 2026, Vistra Operations Company LLC completed a $2.25 billion private offering of senior secured notes, split between $1.0 billion of 4.700% notes due 2031 and $1.25 billion of 5.350% notes due 2036, issued under its existing secured notes indenture and guaranteed by certain subsidiaries with a first-priority security interest over a substantial portion of the group’s assets and equity. The transaction yielded approximately $2.225 billion in net proceeds, which Vistra plans to use alongside cash on hand to fund part of the consideration for its previously announced acquisition of Cogentrix Energy, to refinance existing indebtedness, and to cover related fees and expenses; the notes feature standard redemption, change-of-control and covenant protections, underscoring Vistra’s continued use of secured debt markets to support M&A-driven expansion and balance-sheet management.

The most recent analyst rating on (VST) stock is a Buy with a $227.00 price target. To see the full list of analyst forecasts on Vistra Corp stock, see the VST Stock Forecast page.

Spark’s Take on VST Stock

According to Spark, TipRanks’ AI Analyst, VST is a Neutral.

The score is supported by solid operating profitability and a constructive earnings-call outlook with multi-year guidance, but is held back by heavy leverage and weakening recent revenue/FCF trends, a clearly bearish technical setup, and a rich valuation (high P/E with low yield).

To see Spark’s full report on VST stock, click here.

More about Vistra Corp

Vistra Corp., through its indirect wholly owned subsidiary Vistra Operations Company LLC, operates in the energy and power generation sector, and finances its activities in part through secured debt offerings placed with institutional investors in U.S. and international capital markets.

Average Trading Volume: 5,025,158

Technical Sentiment Signal: Buy

Current Market Cap: $53.81B

For an in-depth examination of VST stock, go to TipRanks’ Overview page.

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