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| NRG Energy, Inc. |
| 1221 Nicollet Mall, Suite 700, Minneapolis, MN 55403 * (612) 373-5300 |
| Business Description | The company is a leading global energy company primarily engaged in the acquisition, development, ownership and operation of power generation facilities. |
| Offering Information Company has | ||||
| Trading As | NRG (NYSE) | Industry | Utilities (SIC 4911) | |
| Type of Stock Offered | Common Shares | Filing Date | 4/19/00 | |
| Domestic Shares Offered | 28,170,000 | Offer Date | 5/30/00 | |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $18.00 | |
| Company Shares | 28,170,000 | Offer Price | $15.00 | |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.900 | |
| Gross Proceeds | $422,550,000 | Selling | $0.540 | |
| Expenses | - - | Reallowance | $0.100 | |
| Post-IPO Shares | 28,170,000 | Employees | - - | |
| Spun out from: | Northern States Power Company | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| ABN AMRO Bank | Co-manager | |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 12/31/99 | ||||
| Revenues | - | - | 92.052 | 100.424 | 432.518 | - | - |
| Income from Oper. | - | - | 18.109 | 57.012 | 109.520 | - | - |
| Net Income | - | - | 21.982 | 41.732 | 57.195 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 9.09 | 330.692 | - | ||
| Net Income Growth (%) | - | - | 89.85 | 37.05 | - | ||
| Oper. Profit Margin (%) | - | - | 19.67 | 56.77 | 25.32 | - | - |
| Net Profit Margin (%) | - | - | 23.88 | 41.56 | 13.22 | - | - |
| Cash Flow - Oper. | -11.38 | - | - | ||||
| Cash Flow - Inv. | -1,668.61 | - | - | ||||
| Cash Flow - Fin. | 1,705.10 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/99 | Financial Ratios | ||||
| Total Assets | 1,919.32 | Current Assets | 323.97 | Current Ratio | 0.62 |
| Total Liab. | 1,025.67 | Current Liab. | 524.36 | Debt Ratio | 53.44% |
| Total Equity | 893.65 | Working Cap. | -200.39 | Debt to Equity Ratio | 1.15 |
| Cash | 31.48 | Return on Assets | 2.98% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to repay indebtedness owed to Citicorp USA, Inc., for general corporate purposes including working capital, capital expenditures and business acquisitions. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Gibson, Dunn & Crutcher |
| Bank's Law Firm | Skadden, Arps, Slate, Meagher & Flom |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Northern States Power Company | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||