NRG Energy Inc. has entered into a new financing arrangement involving the sale and issuance of several series of notes. On October 8, 2025, the company issued $625 million in 4.734% senior secured first lien notes due 2030 and $625 million in 5.407% senior secured first lien notes due 2035, under a purchase agreement with initial purchasers and named guarantors. Additionally, NRG Energy issued $1.25 billion in 5.750% senior notes due 2034 and $1.25 billion in 6.000% senior notes due 2036. The secured notes are backed by a security interest in collateral that also supports the company's existing credit agreement with its lenders. Proceeds from these offerings will be used in part to fund the acquisition of several power-related entities and to repay $500 million of 2.000% senior secured notes maturing December 2, 2025. The notes were sold through private placement to qualified institutional buyers and non-U.S. persons.