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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (date of earliest event reported): February&nbsp;5, 2019 </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>VISTRA ENERGY CORP. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-38086</FONT></B></TD>
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<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">36-4833255</FONT></B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>6555 Sierra Drive</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Irving, TX</B></P></TD>
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<TD VALIGN="bottom" ALIGN="center"><B>75039</B></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(214) <FONT STYLE="white-space:nowrap">812-4600</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.l4a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR 240. <FONT STYLE="white-space:nowrap">14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Entry into a Material Definitive Agreement. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Private Debt Offering </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;6, 2019
Vistra Operations Company LLC (&#147;Vistra Operations&#148; or the &#147;Issuer&#148;), an indirect wholly-owned subsidiary of Vistra Energy Corp. (the &#147;Company&#148;), issued and sold $1,300,000,000 aggregate principal amount of the
Issuer&#146;s 5.625% Senior Notes due 2027 (the &#147;New Notes&#148;) in an offering to eligible purchasers under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The New Notes were sold
pursuant to a purchase agreement (the &#147;Purchase Agreement&#148;) by and among the Issuer, certain direct and indirect subsidiaries of the Issuer (the &#147;Subsidiary Guarantors&#148;), and J.P. Morgan Securities LLC, as representative of the
several initial purchasers named in Schedule I thereto (the &#147;Initial Purchasers&#148;). A copy of the Purchase Agreement was previously filed as Exhibit 10.1 to the Company&#146;s Current Report on Form
<FONT STYLE="white-space:nowrap">8-K</FONT> filed on January&nbsp;24, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer received net proceeds from the sale of the New Notes of
approximately $1,284,225,000 after deducting the initial purchasers&#146; discounts and commissions and estimated offering-related expenses. The Company used the net proceeds to pay the purchase price and accrued interest (together with fees and
expenses) required in connection with the Tender Offer (as defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The New Notes were issued under an indenture, dated as of February&nbsp;6,
2019 (the &#147;2027 Notes Indenture&#148;), by and among the Issuer, the Subsidiary Guarantors and Wilmington Trust, National Association, as trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The 2027 Notes Indenture provides for the full and unconditional guarantee by the Subsidiary Guarantors of the punctual payment of the principal of, premium,
if any, interest on and all other amounts due under the New Notes and the 2027 Notes Indenture (the &#147;Guarantees&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest on the New Notes
will accrue from February&nbsp;6, 2019, at a rate of 5.625% per annum. Interest on the New Notes will be payable by the Issuer on February&nbsp;15 and August&nbsp;15 of each year, beginning on August&nbsp;15, 2019. The New Notes will mature on
February&nbsp;15, 2027. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Prior to February&nbsp;15, 2022, the Issuer will have the option to redeem all or any portion of the New Notes at a redemption
price equal to 100% of the aggregate principal amount of the New Notes being redeemed, plus a make-whole premium and accrued and unpaid interest, if any, to, but excluding, the redemption date. On or after February&nbsp;15, 2022, the Issuer may
redeem all or any portion of the New Notes at various redemption prices set forth in the 2027 Notes Indenture. Prior to February&nbsp;15, 2022, the Issuer may also redeem up to 40% of the New Notes at a price equal to 105.625% of the aggregate
principal amount of the New Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, using the proceeds of certain equity offerings of the Issuer or any direct or indirect parent entity of the Issuer to the extent
such proceeds are contributed to the common equity capital of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon (i)&nbsp;the occurrence of a change of control and (ii)&nbsp;a downgrade
by one or more gradations, or the withdrawal, in either case, of the rating of the New Notes within 60 days after the change of control by at least two of Moody&#146;s Investors Service, Inc., Standard&nbsp;&amp; Poor&#146;s Financial Services LLC
or Fitch Ratings Inc., the Issuer will be required to make an offer to repurchase all or any portion of the outstanding New Notes at a price in cash equal to 101% of the aggregate principal amount of the New Notes repurchased, plus any accrued and
unpaid interest to, but excluding, the repurchase date, subject to the rights of holders thereof on the relevant record date to receive interest due on the relevant interest payment date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The 2027 Notes Indenture contains certain covenants and restrictions, including, among others, restrictions on the ability of the Issuer and its subsidiaries,
as applicable, to create certain liens, merge or consolidate with another entity, and sell all or substantially all of their assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing
description of the 2027 Notes Indenture and the New Notes does not purport to be complete and is qualified in its entirety by reference to the 2027 Notes Indenture and the forms of New Notes, copies of which are filed as Exhibits 4.1, 4.2 and 4.3,
respectively, to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> (this &#147;Current Report&#148;) and are incorporated by reference herein. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Tender Offer and Consent Solicitation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;5, 2019, the Company issued a press release announcing the results to date of its previously announced cash tender offer (the &#147;Tender
Offer&#148;) for its 7.375% Senior Notes due 2022 (the &#147;Existing Notes&#148;) issued by Dynegy Inc. (&#147;Dynegy&#148;), as predecessor to the Company. In conjunction with the Tender Offer, the Company also announced the results to date for
the Company&#146;s previously announced solicitation of consents (the &#147;Consent Solicitation&#148;) from holders of the Existing Notes to amend certain provisions of the 2022 Notes Indenture (as defined below) corresponding to the Existing
Notes.&nbsp;A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As described in the above-mentioned
press release, the Company received the requisite consents of the holders of the Existing Notes to amend certain provisions of the 2022 Notes Indenture governing the Existing Notes. Accordingly, on February&nbsp;6, 2019, the Company and Wilmington
Trust, National Association, as trustee (the &#147;Trustee&#148;), executed and delivered the Tenth Supplemental Indenture (the &#147;Supplemental Indenture&#148;) to that certain indenture, dated as of October&nbsp;27, 2014 (as amended and
supplemented prior to the Supplemental Indenture, the &#147;2022 Notes Indenture&#148;), by and between the Company, as successor by merger to Dynegy, and the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing description of the Supplemental Indenture does not purport to be complete and is qualified in its entirety by reference to the Supplemental
Indenture, a copy of which is filed as Exhibit 4.4 to this Current Report and is incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Current Report does not
constitute an offer to purchase nor a solicitation of an offer to sell any Existing Notes in the Tender Offer. The Tender Offer and the Consent Solicitation are only being made pursuant to the Offer to Purchase and Consent Solicitation and the
accompanying Letter of Transmittal and Consent. The Tender Offer and the Consent Solicitation are not being made to holders of Existing Notes in any state or jurisdiction in which the making or acceptance thereof would be unlawful under the
securities laws of any such jurisdiction. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;2.03</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Creation of a Direct Financial Obligation or an Obligation under an
<FONT STYLE="white-space:nowrap">Off-Balance</FONT> Sheet Arrangement of a Registrant. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information set forth under the heading
&#147;Private Debt Offering&#148; in Item 1.01 of this Current Report is incorporated by reference herein. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Financial Statements and Exhibits. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman"><I>(d) Exhibits. </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">NUMBER</P></TD>
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<TD VALIGN="top" NOWRAP>4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#151;</TD>
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<TD VALIGN="bottom"><A HREF="d705502dex41.htm">Indenture, dated as of February&nbsp;6, 2019, among Vistra Operations Company LLC, as Issuer, the Subsidiary Guarantors (as defined therein), and Wilmington Trust, National Association, as Trustee.
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<TD VALIGN="top" NOWRAP>4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#151;</TD>
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<TD VALIGN="bottom"><A HREF="d705502dex41.htm#exa">Form of Rule 144A Global Security for 5.625% Senior Note due 2027 (included in Exhibit 4.1). </A></TD></TR>
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<TD VALIGN="top" NOWRAP>4.3</TD>
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<TD VALIGN="top" ALIGN="center">&#151;</TD>
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<TD VALIGN="bottom"><A HREF="d705502dex41.htm#exa">Form of Regulation S Global Security for 5.625% Senior Note due 2027 (included in Exhibit 4.1). </A></TD></TR>
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<TD VALIGN="top" NOWRAP>4.4</TD>
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<TD VALIGN="top" ALIGN="center">&#151;</TD>
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<TD VALIGN="bottom"><A HREF="d705502dex44.htm">Tenth Supplemental Indenture, dated as of February&nbsp;6, 2019, by and among the Company, as the Issuer (as successor by merger to Dynegy) and Wilmington Trust, National Association, as the Trustee.
</A></TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#151;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="d705502dex991.htm">Press Release issued by Vistra Energy Corp. dated February&nbsp;5, 2019. </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to&nbsp;&nbsp;&nbsp;&nbsp;be signed on its
behalf by the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">Date: February&nbsp;6, 2019</TD>
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<TD VALIGN="top" COLSPAN="3"><B>Vistra Energy Corp.</B></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kristopher E. Moldovan</P></TD></TR>
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<TD VALIGN="top">Name: Kristopher E. Moldovan</TD></TR>
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<TD VALIGN="top">Title: Senior Vice President and Treasurer</TD></TR>
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{"company-data": {"conformed-name": "Vistra Energy Corp.", "cik": "0001692819", "assigned-sic": "4911", "irs-number": "364833255", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-38086", "film-number": "19571621"}, "business-address": {"street1": "6555 SIERRA DRIVE", "city": "IRVING", "state": "TX", "zip": "75039", "phone": "(214) 812-4600"}, "mail-address": {"street1": "6555 SIERRA DRIVE", "city": "IRVING", "state": "TX", "zip": "75039"}, "former-company": {"former-conformed-name": "Vistra Energy Corp", "date-changed": "20161221"}}
8-K
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): February 5, 2019
VISTRA ENERGY 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)
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))
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.
Private Debt Offering
On February 6, 2019
Vistra Operations Company LLC ("Vistra Operations" or the "Issuer"), an indirect wholly-owned subsidiary of Vistra Energy Corp. (the "Company"), issued and sold $1,300,000,000 aggregate principal amount of the
Issuer's 5.625% Senior Notes due 2027 (the "New Notes") in an offering to eligible purchasers under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The New Notes were sold
pursuant to a purchase agreement (the "Purchase Agreement") by and among the Issuer, certain direct and indirect subsidiaries of the Issuer (the "Subsidiary Guarantors"), and J.P. Morgan Securities LLC, as representative of the
several initial purchasers named in Schedule I thereto (the "Initial Purchasers"). A copy of the Purchase Agreement was previously filed as Exhibit 10.1 to the Company's Current Report on Form
8-K
filed on January 24, 2019.
The Issuer received net proceeds from the sale of the New Notes of
approximately $1,284,225,000 after deducting the initial purchasers' discounts and commissions and estimated offering-related expenses. The Company used the net proceeds to pay the purchase price and accrued interest (together with fees and
expenses) required in connection with the Tender Offer (as defined below).
The New Notes were issued under an indenture, dated as of February 6,
2019 (the "2027 Notes Indenture"), by and among the Issuer, the Subsidiary Guarantors and Wilmington Trust, National Association, as trustee.
The 2027 Notes Indenture provides for the full and unconditional guarantee by the Subsidiary Guarantors of the punctual payment of the principal of, premium,
if any, interest on and all other amounts due under the New Notes and the 2027 Notes Indenture (the "Guarantees").
Interest on the New Notes
will accrue from February 6, 2019, at a rate of 5.625% per annum. Interest on the New Notes will be payable by the Issuer on February 15 and August 15 of each year, beginning on August 15, 2019. The New Notes will mature on
February 15, 2027.
Prior to February 15, 2022, the Issuer will have the option to redeem all or any portion of the New Notes at a redemption
price equal to 100% of the aggregate principal amount of the New Notes being redeemed, plus a make-whole premium and accrued and unpaid interest, if any, to, but excluding, the redemption date. On or after February 15, 2022, the Issuer may
redeem all or any portion of the New Notes at various redemption prices set forth in the 2027 Notes Indenture. Prior to February 15, 2022, the Issuer may also redeem up to 40% of the New Notes at a price equal to 105.625% of the aggregate
principal amount of the New Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, using the proceeds of certain equity offerings of the Issuer or any direct or indirect parent entity of the Issuer to the extent
such proceeds are contributed to the common equity capital of the Issuer.
Upon (i) the occurrence of a change of control and (ii) a downgrade
by one or more gradations, or the withdrawal, in either case, of the rating of the New Notes within 60 days after the change of control by at least two of Moody's Investors Service, Inc., Standard & Poor's Financial Services LLC
or Fitch Ratings Inc., the Issuer will be required to make an offer to repurchase all or any portion of the outstanding New Notes at a price in cash equal to 101% of the aggregate principal amount of the New Notes repurchased, plus any accrued and
unpaid interest to, but excluding, the repurchase date, subject to the rights of holders thereof on the relevant record date to receive interest due on the relevant interest payment date.
The 2027 Notes Indenture contains certain covenants and restrictions, including, among others, restrictions on the ability of the Issuer and its subsidiaries,
as applicable, to create certain liens, merge or consolidate with another entity, and sell all or substantially all of their assets.
The foregoing
description of the 2027 Notes Indenture and the New Notes does not purport to be complete and is qualified in its entirety by reference to the 2027 Notes Indenture and the forms of New Notes, copies of which are filed as Exhibits 4.1, 4.2 and 4.3,
respectively, to this Current Report on Form
8-K
(this "Current Report") and are incorporated by reference herein.
Tender Offer and Consent Solicitation
On February 5, 2019, the Company issued a press release announcing the results to date of its previously announced cash tender offer (the "Tender
Offer") for its 7.375% Senior Notes due 2022 (the "Existing Notes") issued by Dynegy Inc. ("Dynegy"), as predecessor to the Company. In conjunction with the Tender Offer, the Company also announced the results to date for
the Company's previously announced solicitation of consents (the "Consent Solicitation") from holders of the Existing Notes to amend certain provisions of the 2022 Notes Indenture (as defined below) corresponding to the Existing
Notes. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
As described in the above-mentioned
press release, the Company received the requisite consents of the holders of the Existing Notes to amend certain provisions of the 2022 Notes Indenture governing the Existing Notes. Accordingly, on February 6, 2019, the Company and Wilmington
Trust, National Association, as trustee (the "Trustee"), executed and delivered the Tenth Supplemental Indenture (the "Supplemental Indenture") to that certain indenture, dated as of October 27, 2014 (as amended and
supplemented prior to the Supplemental Indenture, the "2022 Notes Indenture"), by and between the Company, as successor by merger to Dynegy, and the Trustee.
The foregoing description of the Supplemental Indenture does not purport to be complete and is qualified in its entirety by reference to the Supplemental
Indenture, a copy of which is filed as Exhibit 4.4 to this Current Report and is incorporated by reference herein.
This Current Report does not
constitute an offer to purchase nor a solicitation of an offer to sell any Existing Notes in the Tender Offer. The Tender Offer and the Consent Solicitation are only being made pursuant to the Offer to Purchase and Consent Solicitation and the
accompanying Letter of Transmittal and Consent. The Tender Offer and the Consent Solicitation are not being made to holders of Existing Notes in any state or jurisdiction in which the making or acceptance thereof would be unlawful under the
securities laws of any such jurisdiction.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance
Sheet Arrangement of a Registrant.
The information set forth under the heading
"Private Debt Offering" in Item 1.01 of this Current Report is incorporated by reference herein.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT
NUMBER
DESCRIPTION
4.1
—
Indenture, dated as of February 6, 2019, among Vistra Operations Company LLC, as Issuer, the Subsidiary Guarantors (as defined therein), and Wilmington Trust, National Association, as Trustee.
4.2
—
Form of Rule 144A Global Security for 5.625% Senior Note due 2027 (included in Exhibit 4.1).
4.3
—
Form of Regulation S Global Security for 5.625% Senior Note due 2027 (included in Exhibit 4.1).
4.4
—
Tenth Supplemental Indenture, dated as of February 6, 2019, by and among the Company, as the Issuer (as successor by merger to Dynegy) and Wilmington Trust, National Association, as the Trustee.
99.1
—
Press Release issued by Vistra Energy Corp. dated February 5, 2019.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to    be signed on its
behalf by the undersigned hereunto duly authorized.
Date: February 6, 2019
Vistra Energy Corp.
/s/ Kristopher E. Moldovan
Name: Kristopher E. Moldovan
Title: Senior Vice President and Treasurer