Vistra Corp. Expands Revolving Credit Capacity to $5.5 Billion in Major Debt Restructuring

On June 24, 2026, Vistra (NYSE: VST) Operations Company LLC, a wholly owned subsidiary of Vistra Corp., finalized significant modifications to its existing financial arrangements. Working with Citibank, N.A. as the administrative and collateral agent, the company amended its 2016 Credit Agreement to expand its borrowing potential and streamline its debt obligations.

The primary amendment resulted in the revolving credit commitments rising to $5.50 billion, up from the previous $3.44 billion. Beyond the capital increase, the restructuring involved the removal of collateral reinstatement provisions and the release of guarantors from duties related to revolving loans, letters of credit, and cash management services. These changes reflect a shift toward a less restrictive security framework for the company's revolving credit lines.

In a parallel move, Vistra also updated its February 2022 commodity-linked credit agreement. This amendment ensures that the commodity-focused facility remains consistent with the updated terms of the primary credit agreement, specifically regarding the release of guarantor liabilities and the alignment of corporate representations and warranties.

The broad overhaul of these agreements involved a diverse group of lenders and financial institutions. By modifying these covenants and removing specific collateral mandates, Vistra has adjusted its financial architecture to better suit its current operational scale while securing a larger pool of immediate liquidity.