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Debt and Capital Leases (Tables)
 6 Months Ended
Jun. 30, 2018
Debt Disclosure [Abstract]  
Long-term debt and capital leases
Long-term debt and capital leases consisted of the following:
(In millions, except rates)
June 30, 2018
 
December 31, 2017
 
June 30, 2018 interest rate % (a)
 
 
 
Recourse debt:
 
 
 
 
 
Senior Notes, due 2022
$
977

 
$
992

 
6.250
Senior Notes, due 2024
733

 
733

 
6.250
Senior Notes, due 2026
1,000

 
1,000

 
7.250
Senior Notes, due 2027
1,250

 
1,250

 
6.625
Senior Notes, due 2028
841

 
870

 
5.750
Convertible Senior Notes, due 2048
575

 
—

 
2.750
Revolving loan facility, due 2018 and 2021
26

 
—

 
L+1.75
Term loan facility, due 2023
1,862

 
1,872

 
L+1.75
Tax-exempt bonds
465

 
465

 
4.125 - 6.00
Subtotal recourse debt
7,729

 
7,182

 

Non-recourse debt:
 
 
 
 
 
NRG Yield, Inc. Convertible Senior Notes, due 2019
345

 
345

 
3.500
NRG Yield, Inc. Convertible Senior Notes, due 2020
288

 
288

 
3.250
NRG Yield Operating LLC Senior Notes, due 2024
500

 
500

 
5.375
NRG Yield Operating LLC Senior Notes, due 2026
350

 
350

 
5.000
NRG Yield LLC and NRG Yield Operating LLC Revolving Credit Facility, due 2023(b)
—

 
55

 
L+1.75
El Segundo Energy Center, due 2023
369

 
400

 
L+1.75 - L+2.375
Marsh Landing, due 2023
305

 
318

 
L+2.125
Alta Wind I - V lease financing arrangements, due 2034 and 2035
901

 
926

 
5.696 - 7.015
Walnut Creek, term loans due 2023
254

 
267

 
L+1.625
Utah Portfolio, due 2022
273

 
278

 
various
Tapestry, due 2021
155

 
162

 
L+1.625
CVSR, due 2037
731

 
746

 
2.339 - 3.775
CVSR HoldCo, due 2037
188

 
194

 
4.680
Alpine, due 2022
133

 
135

 
L+1.750
Energy Center Minneapolis, due 2031, 2033, 2035 and 2037
328

 
208

 
various
Viento, due 2023
154

 
163

 
L+3.00
Buckthorn Solar, due 2018 and 2025
132

 
169

 
L+1.750
NRG Yield - other
564

 
579

 
various
Subtotal NRG Yield debt (non-recourse to NRG) (c)
5,970

 
6,083

 
 
Ivanpah, due 2033 and 2038 (e)
—

 
1,073

 
2.285 - 4.256
Carlsbad Energy Project (c)
513

 
427

 
L+1.625 - 4.120
Agua Caliente, due 2037
812

 
818

 
2.395 - 3.633
Agua Caliente Borrower 1, due 2038
86

 
89

 
5.430
Cedro Hill, due 2025 (c)
144

 
151

 
L+1.75
Midwest Generation, due 2019
108

 
152

 
4.390
NRG Other Renewables (c)
623

 
478

 
various
NRG Other
107

 
180

 
various
Subtotal other NRG non-recourse debt
2,393

 
3,368

 
 
Subtotal all non-recourse debt
8,363

 
9,451

 
 
Subtotal long-term debt (including current maturities)
16,092


16,633

 
 
Capital leases
3

 
5

 
various
Subtotal long-term debt and capital leases (including current maturities)
16,095


16,638

 
 
Less current maturities(d)
(952
)

(688
)
 
 
Less debt issuance costs
(199
)
 
(204
)
 
 
Discounts
(123
)
 
(30
)
 
 
Total long-term debt and capital leases
$
14,821


$
15,716

 
 

(a) As of June 30, 2018, L+ equals 3-month LIBOR plus x%, except for Carlsbad, the Buckthorn Solar and Utah Solar Portfolio where L+ equals 1 month LIBOR plus x% and Viento where L+ equals 6-month LIBOR plus x%.
(b) Applicable rate is determined by the Borrower Leverage Ratio, as defined in the credit agreement.
(c) Debt associated with the asset sales announced in February 2018.
(d) The NRG Yield, Inc. Convertible Senior Notes, due 2019, become due in February 2019 and are recorded in current maturities as of June 30, 2018.
(e) The Company deconsolidated Ivanpah during the second quarter of 2018.
Senior notes repurchased

Principal Repurchased

Cash Paid (a)                         

Average Early Redemption Percentage
In millions, except rates





5.750% senior notes due 2028
$
29


$
30


99.24
%
6.250% senior notes due 2022
14


15


103.25
%
Total at June 30, 2018
$
43


$
45



6.250% senior notes due 2022
6


6


103.25
%
5.750% senior notes due 2028
20

 
21

 
99.13
%
6.625% senior notes due 2027
20

 
21

 
103.06
%
Total at August 2, 2018
$
89

 
$
93

 
 
(a) Includes payment for accrued interest of $1 million.
Energy Center Minneapolis Series Notes
On June 19, 2018, NRG Energy Center Minneapolis, a subsidiary of NRG Yield LLC, entered into an amended and restated Thermal note purchase and private shelf agreement whereas it authorized the issuance of the Series E Notes, Series F Notes, Series G Notes, and Series H Notes, as further described in the table below:
 
Amount
 
Interest Rate
In millions, except rates
 
 
 
Energy Center Minneapolis Series E Notes, due 2033
$
70

 
4.80
%
Energy Center Minneapolis Series F Notes, due 2033
10

 
4.60
%
Energy Center Minneapolis Series G Notes, due 2035
83

 
5.90
%
Energy Center Minneapolis Series H Notes, due 2037
40

 
4.83
%
Total proceeds
$
203

 
 
Repayment of Energy Center Minneapolis Series C Notes, due 2025
(83
)
 
5.95
%
Net borrowings
$
120