Form 8-K Vistra Corp. For: May 05

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2022

 

VISTRA CORP.

(Exact name of registrant as specified in its charter)

 

 

Delaware		001-38086		36-4833255
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

 

6555 Sierra Drive Irving, TX		75039
(Address of principal executive offices)		(Zip Code)

(214) 812-4600

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.l4a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240. 14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common stock, par value $0.01 per share		VST		New York Stock Exchange
Warrants		VST.WS.A		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 1.01.

Entry into a Material Definitive Agreement.

On May 5, 2022 (the “Effective Date”), Vistra Operations Company LLC (“Vistra Operations”) (in such capacity, “Borrower”), entered into an amendment (the “Amendment”) by and among the Borrower, Vistra Intermediate Company LLC (“Vistra Intermediate”), the other credit parties party thereto, the financial institutions providing new revolving credit commitments, the lenders party thereto, and Citibank, N.A, as Administrative agent and collateral agent (in such capacity, the “Agent”), to that certain credit agreement (as amended, the “Credit Agreement”), dated as of February 4, 2022, by and among the Borrower, Vistra Intermediate, the lenders, joint lead arrangers and joint bookrunners party thereto, and the Agent, which agreement provides for a senior secured commodity-linked revolving credit facility (the “Commodity-Linked Facility”). Pursuant to the Amendment, effective as of the Effective Date, the Total Revolving Credit Commitment (as defined in the Credit Agreement) under the Commodity-Linked Facility was increased from $1.0 billion to $2.0 billion and each required lender consented to further increase the Total Revolving Credit Commitment under the Commodity-Linked Facility, subject to our ability to obtain additional commitments, by an additional $1.0 billion to $3.0 billion. Borrower intends to use the liquidity provided under the Commodity-Linked Facility to make cash postings as required under various commodity contracts to which Vistra Operations and its subsidiaries are parties as power prices increase from time to time and for other working capital and general corporate purposes.

The foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which will be filed with the Company’s next periodic report.

 

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information contained in Item 1.01 concerning the Company’s direct financial obligations under the Amendment is incorporated by reference herein.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

				Vistra Corp.
Dated: May 9, 2022				/s/ Kristopher E. Moldovan
				Name:		Kristopher E. Moldovan
				Title:		Senior Vice President and Treasurer