NRG Yield sets terms for $392 million IPO
NRG Yield, a company formed by NRG Energy to own, operate and
acquire renewable and conventional generation and thermal
infrastructure assets, announced terms for its IPO on Monday. The
Princeton, NJ-based company plans to raise $392 million by
offering 19.6 million shares at a price range of $19 to $21. At
the midpoint of the proposed range, NRG Yield would command a
fully diluted market value of $1.3 billion.
NRG Yield, which was founded in 2012 and booked $184 million in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol NYLD. NRG Yield initially filed confidentially on February 13, 2013. BofA Merrill Lynch, Goldman Sachs, and Citi are the joint bookrunners on the deal.