NRG Energy Inc. (NYSE: NRG) will offer $1 billion, in aggregate principal amount, of 6.25% senior notes due 2024, the company said April 4. They will be unsecured obligations of the company and guaranteed by some of its subsidiaries, NRG added.

The notes are scheduled to close April 21 this year and will mature on May 1, 2024, the company said.

Proceeds from the offering, alongside cash, will be used to repurchase all outstanding 8.50% senior notes, whose aggregate principal amount is $298,548,000, as well as all outstanding 7.625% senior notes due 2019, whose aggregate principal amount is $708,522,000, the company said.

Additionally, proceeds will pay fees and expenses related to the offering, as well as fees and expenses related to the buyback of the 2019 notes, NRG noted.

Dually based in Houston and Princeton, N.J., NRG Energy Inc. has assets in oil and gas nationwide.