12:41 PM EDT, 10/15/2024 (MT Newswires) -- NRG Energy ( NRG ) said Tuesday its unit APX Group has started an offer to purchase its outstanding $600 million of 6.75% senior secured notes due 2027 for cash.

APX is also soliciting consents to adopt certain proposed amendments to the indenture that governs the notes.

The tender offer is set to expire on Nov. 13, NRG said.

The company is also offering to exchange $800 million of APX's 5.75% unsecured notes due 2029 for new notes, to be issued by NRG, and cash.

NRG is offering $1,000 of new notes and $1 cash for each $1,000 of the existing unsecured notes. The exchange offer will expire on Oct. 28, and will be settled three business day after that.

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