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NRG > SEC Filings for NRG > Form 8-K on 27-Feb-2009All Recent SEC Filings

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Form 8-K for NRG ENERGY, INC.


27-Feb-2009

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement.

On February 12, 2009, NRG Energy, Inc., or the Company, announced that Nuclear Innovation North America, or NINA, an 88% percent owned subsidiary of the Company, completed negotiations for the Engineering, Procurement and Construction agreement, or the EPC Agreement, with Toshiba America Nuclear Energy, Inc., or TANE, to build the South Texas Project, or STP, expansion. Concurrent with the execution of the EPC Agreement, on February 24, 2009, NINA entered into a $500 million credit agreement with TANE to finance long-lead materials related to the development of STP Unit 3 and Unit 4. The facility will bear interest at LIBOR plus 200 basis points, subject to a ratings grid for the STP Unit 3 and Unit 4 Project. The facility will have an initial three-year term with certain one-year extension rights subject to certain conditions being met. NINA intends to terminate and repay any amounts outstanding related to its revolving credit facility with The Royal Bank of Scotland PLC upon, or promptly after entering into the facility.
A copy of the credit agreement is attached as Exhibit 10.1 to the Current Report on Form 8-K. The description of the material terms of the credit agreement is qualified in its entirety by reference to such exhibit. Item 9.01 Financial Statements and Exhibits

Exhibit No.      Document
10.1             Credit Agreement by and among Nuclear Innovation North America LLC,
                 Nuclear Innovation North America Investments LLC, NINA Texas 3 LLC and
                 NINA Texas 4 LLC, as Borrowers and Toshiba America Nuclear Energy
                 Corporation, as Administrative Agent and as Collateral Agent.


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