NRG Yield (NYLD) IPO Surges Higher
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The IPO for NRG Yield (NYSE: NYLD), which was spun-off from NRG Energy, Inc. (NYSE: NRG), started trading today on the NYSE. Shares last traded at $27.25 after pricing 19,575,000 shares at $22.
NRG Yield intends to use a portion of the net proceeds of this offering to purchase a portion of the equity interests in NRG Yield LLC, which holds the NRG Yield assets, from NRG Energy, Inc. NRG Yield LLC intends to use a portion of such proceeds for general corporate purposes.
BofA Merrill Lynch, Goldman, Sachs & Co. and Citigroup are acting as joint book runners. Barclays, KeyBanc Capital Markets, Mitsubishi UFJ Securities, RBC Capital Markets, Credit Suisse and Deutsche Bank Securities are acting as co-managers.
NRG Yield intends to use a portion of the net proceeds of this offering to purchase a portion of the equity interests in NRG Yield LLC, which holds the NRG Yield assets, from NRG Energy, Inc. NRG Yield LLC intends to use a portion of such proceeds for general corporate purposes.
BofA Merrill Lynch, Goldman, Sachs & Co. and Citigroup are acting as joint book runners. Barclays, KeyBanc Capital Markets, Mitsubishi UFJ Securities, RBC Capital Markets, Credit Suisse and Deutsche Bank Securities are acting as co-managers.
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