Clearway Energy Operating LLC, a Subsidiary of Clearway Energy, Inc., Announces Expiration and Results of Cash Tender Offer for Its Outstanding 5.375% Senior Notes Due 2024

PRINCETON, N.J., Dec. 11, 2019 (GLOBE NEWSWIRE) --  Clearway Energy Operating LLC (“Clearway Operating”), a subsidiary of Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) (“Clearway Energy”), announced the expiration and results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 5.375% senior notes due 2024 (the “2024 Notes”).

The Tender Offer expired at 5:00 p.m., New York City time, on December 10, 2019 (the “Expiration Time”). As of the Expiration Time, an aggregate principal amount of $411,947,000, or 82.4%, of the 2024 Notes were validly tendered and not validly withdrawn, which amount excludes $1,015,000 aggregate principal amount of the Notes that remain subject to guaranteed delivery procedures.  Clearway Operating has accepted for payment all 2024 Notes validly tendered prior to the Expiration Time pursuant to the Tender Offer and expects to make payment for such 2024 Notes on December 11, 2019. Clearway Operating also expects to accept for payment all 2024 Notes that remain subject to guaranteed delivery procedures and to make payment for such 2024 Notes on December 13, 2019.  Concurrently with the launch of the tender offer, Clearway Operating exercised its right to optionally redeem any 2024 Notes not validly tendered and purchased in the tender offer, pursuant to the terms of the indenture governing the 2024 Notes, which redemption will occur on January 3, 2020.

Requests for documents relating to the tender offer may be directed to D.F. King & Co., Inc., the Information Agent, at [phone] (Toll-Free) or [phone], by email at [e-mail], or via the following web address: www.dfking.com/cwen. Citigroup Global Markets Inc. acted as the Dealer Manager for the tender offer. Questions regarding the tender offer may be directed to the Dealer Manager at [phone] (Toll-Free) or [phone] (Collect).

This press release is for informational purposes only and does not constitute a notice of redemption under the optional redemption provisions of the indenture governing the 2024 Notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security, including the New Notes, nor does it constitute a solicitation for an offer to purchase any security, including the New Notes or the 2024 Notes.