HOUSTON, Aug. 29 /PRNewswire-FirstCall/ -- Reliant Energy, Inc.
announced today that it has extended the expiration date for and is
amending the terms of its consent solicitation relating to:
* Three series of its outstanding Senior Secured Notes (collectively,
the "Notes"):
* 9.25% Senior Secured Notes due 2010;
* 9.50% Senior Secured Notes due 2013; and
* 6.75% Senior Secured Notes due 2014; and
* Five series of Pennsylvania Economic Development Financing Authority's
outstanding Exempt Facilities Revenue Bonds (Reliant Energy Seward,
LLC Project) (collectively, the "Bonds"):
* Series 2001A;
* Series 2002A;
* Series 2002B;
* Series 2003A; and
* Series 2004A.
The expiration date has been extended to 5 p.m., EDT, on Friday,
September 1, 2006, unless further extended or the consent solicitation is
terminated by Reliant Energy.
The new terms include an increase in the consent fee payable in
connection with the consent solicitation from $1.25 to $2.50 for each
$1,000 in principal amount of Notes or Bonds for which a consent is validly
delivered and not revoked. The Company will cause the consent fee to be
paid, promptly after the expiration of the consent solicitation and the
satisfaction or waiver of all conditions to the consent (as set forth in
the consent solicitation statement described below) applicable to a series
of Notes or Bonds, to each holder of Notes or Bonds of such series who has
delivered (and has not revoked) a valid consent prior to the expiration of
the consent solicitation.
In addition to the increase in the consent fee, the new terms include
changes to certain of the proposed amendments to the indentures governing
the Notes and the guarantee agreements governing Reliant Energy's
guarantees of the Bonds, as well as other changes to the terms of the
consent solicitation. The new terms of the consent solicitation are set
forth in a supplement dated August 28, 2006 (the "Supplement") to the
consent solicitation statement dated July 26, 2006 (the "Consent
Solicitation Statement"). Except as set forth in the Supplement, all terms
and conditions of the consent solicitation as set forth in the Consent
Solicitation Statement are unchanged and remain in full force and effect.
This announcement is for informational purposes only and does not
constitute a solicitation of consents. Requests for documents may be
directed to Global Bondholder Services Corporation, the Information Agent,
by telephone at (866) 873-6300 (toll free) or (212) 430-3774. Questions
regarding the consent solicitation may be directed to Goldman, Sachs & Co.,
the Solicitation Agent, at (800) 828-3182 (toll-free) or (212) 902-0041.
Reliant Energy, Inc. (NYSE: RRI) based in Houston, Texas, provides
electricity and energy services to retail and wholesale customers in the
United States. In Texas, the company provides service to approximately 1.9
million retail electricity customers, including residential and small
business customers and commercial, industrial, governmental and
institutional customers. Reliant also serves commercial, industrial,
governmental and institutional customers in the PJM (Pennsylvania, New
Jersey and Maryland) market.
The company is one of the largest independent power producers in the
nation with approximately 16,000 megawatts of power generation capacity in
operation across the United States. These strategically located generating
assets utilize natural gas, fuel oil and coal. For more information, visit
http://www.reliant.com/corporate .
SOURCE Reliant Energy, Inc.
 back to top
Related links:
http://www.reliant.com/corporate
CONTACT:
investors, Dennis Barber, +1-713-497-3042, or
media, Pat Hammond, +1-713-497-7723, both of Reliant Energy, Inc.
|
