Item 1.01. Entry into a Material Definitive Agreement.
On October 11, 2024, Vistra Operations Company LLC (“Vistra Operations”) (as Borrower), an indirect, wholly owned subsidiary of Vistra Corp. (the “Company”), entered into an amendment (the “Credit Agreement Amendment”) among Vistra Operations, Vistra Intermediate Company LLC, the guarantors party thereto, the revolving credit lenders and revolving letter of credit issuers party thereto, Citibank, N.A, as Administrative and Collateral Agent, and the other parties named therein, which amended that certain Credit Agreement, dated as of October 3, 2016 (as amended, supplemented or otherwise modified from time to time, including by the Credit Agreement Amendment, the “Credit Agreement”). Capitalized terms used but not defined herein have the meanings given to such terms in the Credit Agreement Amendment or the Credit Agreement, as applicable.
Pursuant to the Credit Agreement Amendment, effective as of October 11, 2024, the Credit Agreement was amended to, among other things, (i) extend the maturity date applicable to the 2022 Extended Revolving Credit Facility from April 29, 2027 to October 11, 2029, (ii) provide for additional revolving credit commitments by certain lenders, which constitutes an increase in the existing class of 2022 Extended Revolving Credit Commitments from $3.175 billion to $3.440 billion and which is subject to the same prepayment provisions, maturity date and other terms and conditions applicable to the existing class of 2022 Extended Revolving Credit Commitments under the Credit Agreement, (iii) appoint a new revolving letter of credit issuer under the Credit Agreement, (iv) amend certain other provisions of the Credit Agreement, including, without limitation, increasing the permissible maximum incremental facilities amount and increasing capacity under certain negative covenant “baskets”, and (v) effect certain other conforming changes and modifications consistent with the foregoing.
The foregoing summary of the Credit Agreement Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Credit Agreement Amendment, a copy of which will be filed with the Company’s next periodic report.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 of this Current Report concerning the Company’s direct financial obligations under the Credit Agreement Amendment is incorporated by reference herein.
