Vistra Corp (NYSE: VST), an integrated retail electricity and power generation company headquartered in Irving, Texas, announced an underwritten public offering of multiple series of junior subordinated unsecured notes.
The notes will be issued by Vistra Operations Company LLC, an indirect wholly‑owned subsidiary, and will be guaranteed by the parent. They are junior subordinated, unsecured obligations.
Net proceeds are intended for general corporate purposes, including possible distributions to Vistra to fund redemption of its 8.0% Series A Fixed‑Rate Reset Cumulative Redeemable Perpetual Preferred Stock and 7.0% Series B Fixed‑Rate Reset Cumulative Redeemable Green Perpetual Preferred Stock. The redemptions would occur after the five‑year reset dates in October 2026 for Series A and December 2026 for Series B. Any remaining cash may be invested in short‑term interest‑bearing accounts, securities or similar instruments.
The offering is being managed by a syndicate of 21 joint book‑running managers, including Barclays, BofA Securities, Mizuho, MUFG and Truist Securities.
The securities are being offered under an effective shelf registration statement filed with the SEC on September 9, 2026. A preliminary prospectus supplement has been filed, with a final supplement to follow. The announcement was published on September 10, 2026.
