Clearway Energy subsidiary plans $500 million senior notes offering

Clearway Energy Operating LLC, a subsidiary of Clearway Energy Inc. (NYSE: CWEN, CWEN.A), announced plans to offer $500 million in senior notes due 2034, subject to market conditions.

The notes will be senior unsecured obligations of Clearway Operating and guaranteed by Clearway Energy LLC and the company's wholly owned subsidiaries that guarantee indebtedness under its credit agreement.

Clearway Operating plans to use net proceeds to finance or refinance certain indebtedness and acquire assets meeting renewable energy generation and storage eligibility criteria. The company specifically intends to repay borrowings under its revolving credit facility and fund general corporate purposes.

The notes are being offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933 or to non-U.S. persons outside the United States under Regulation S. The notes have not been registered under the Securities Act.

Clearway Energy Inc. owns approximately 12.7 gigawatts of gross capacity across 27 states, including 9.9 GW of wind, solar and energy storage assets and over 2.8 GW of dispatchable power generation. The company's Class C and Class A common stock trade on the New York Stock Exchange under symbols CWEN and CWEN.A.

The information is based on a company press release statement.

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