NRG Energy (NRG) said Thursday it will redeem all of its outstanding 2.75% convertible senior notes due 2048.

The notes will be redeemed on July 8 at par, plus accrued and unpaid interest from June 1 up to but excluding the redemption date, the company said.

Holders can convert the notes before July 7 at a rate of 24.6144 shares per $1,000 principal amount.