ALF Stock
ALF Stock

Vistra Corp. (VST) stock plummeted 5.45% in the pre-market trading session at the price of $21.50 despite no fundamental updates. Vistra, based in Texas, is a Fortune 275 integrated retail power and electricity generation firm. It delivers essential services and resources to clients, businesses, and communities.

VST Announced Green Preferred Stock Offering

On 7th December 2021, VST announced a private offering of 1M shares of its Green Preferred Stock to institutional buyers. The stock shares have offered as part of Rule 144A under the Securities Act of 1933. The private offering has an offering price of US$1,000 per share. The company will acquire $1B in gross proceeds from the sale of its Preferred Stock. The offering was closed on 10th December 2021 and is subject to customary closing conditions.

Management Comments

Chief Executive Officer of VST, Curt Morgan, commented that this milestone affirms the strength of their Zero growth pipeline, strategic plan, and earnings potential. The green offering will offer them a cost-efficient capital to execute a capital allocation plan, repay the capital, and pay down debt. Meanwhile, gross proceeds from the offering will fund Vistra Zero and other development projects.

VST Launched Green Finance Program

On 1st December 2021, VST reported launching its Green Finance Framework, a part of Moody’s ESG Solutions. The Framework permits the company to issue green financial tools to fund existing or new projects that support renewable energy aligned with Vistra’s environmental, social, and governance strategy. VST focused on mitigating the adverse effects of climate change by reducing GHG emissions across industrial activities. The company will keep advancing towards its goal of net-zero carbon emissions by investing in carbon-free resources and other technologies.

Management Comments

Curt Morgan commented that Green Finance Framework reflects their dedication to the fight against climate change. Sponsoring and funding appealing zero-carbon businesses with cost-efficient capital is their top priority. They expect to raise Vistra Zero to 5,000 MW of renewables and storage assets in addition to their 2,300 MW nuclear facility. They focused on supporting the broader energy transition of a nation and improving the long-term sustainability of Vistra.

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