Vistra Corp. (NYSE: VST) announced the pricing of a $4 billion private offering of senior notes across four maturity periods, according to a company statement.

The offering consists of $500 million in senior notes due 2028 at 99.900% of face value with a 4.550% interest rate, $1 billion in notes due 2031 at 99.990% of face value with a 5.000% rate, $1 billion in notes due 2033 at 99.813% of face value with a 5.250% rate, and $1.5 billion in notes due 2036 at 99.823% of face value with a 5.550% rate.

The notes will be issued by Vistra Operations Company LLC, a Delaware limited liability company and indirect wholly owned subsidiary of Vistra. The notes will be senior, unsecured obligations guaranteed by certain subsidiaries that also guarantee the issuer's existing credit agreement from October 2016.

Vistra plans to use the proceeds to repay or redeem existing debt, including Senior Notes due 2027 and Term Loan B-3 Facility, for general corporate purposes, and to pay offering-related fees and expenses.

The offering is expected to close on April 22, 2026, subject to customary closing conditions. The notes are being sold to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S of the Securities Act.

Vistra has agreed to file a registration statement with the Securities and Exchange Commission for a registered exchange offer or, in certain circumstances, to register the resale of the notes.

The Irving, Texas-based company operates as an integrated retail electricity and power generation company with operations from California to Maine.