Clearway Energy Operating announces proposed $500M senior notes offering

Clearway Energy (CWEN) Operating announced that, subject to market conditions, it intends to commence an offering of $500M in aggregate principal amount of senior notes due 2034. The New Notes will be senior unsecured obligations of Clearway Operating and will be guaranteed by Clearway Energy LLC, Clearway Operating’s parent company, and by each of Clearway Operating’s wholly owned current and future subsidiaries that guarantees indebtedness under its credit agreement. Clearway Operating intends to allocate an amount equal to the net proceeds from the offering of the New Notes to finance or refinance certain indebtedness, in part or in full, and acquire assets meeting certain renewable energy generation and storage eligibility criteria. Specifically, Clearway Operating intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facility and for general corporate purposes.