09:34 AM EDT, 06/09/2025 (MT Newswires) -- FirstEnergy ( FE ) said Monday it plans to offer $950 million of convertible senior notes due 2029 and $850 million of convertible senior notes due 2031 via a private placement.

The company said it intends to provide a 13-day option to the initial buyers to purchase up to an additional $150 million of the 2029 notes and an additional $150 million of the 2031 notes.

FirstEnergy ( FE ) said it plans to use the net proceeds to repurchase all or a part of the $1.5 billion total principal amount outstanding of its 4% convertible senior notes due May 1, 2026, repay, redeem, or refund its current debt, and for general corporate purposes.

Shares of the company were down 1.1% in early trading.

Price: 40.23, Change: -0.41, Percent Change: -1.01