SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
NRG Energy, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
629377508
(CUSIP Number)
MatlinPatterson Global Opportunities Partners L.P.
MatlinPatterson Global Opportunities Partners (Bermuda) L.P.
MatlinPatterson Global Advisers LLC
MatlinPatterson Global Partners LLC
MatlinPatterson Asset Management LLC
MatlinPatterson LLC
Mark R. Patterson
David J. Matlin
(Name of Persons Filing)
Robert Weiss
MatlinPatterson Global Advisers LLC
520 Madison Avenue
New York, New York 10022
Telephone: (212) 651-9525
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 5, 2003
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-l(e), 13d-l(f) or 13d-l(g), check the
following box [ ]
Note. Schedules filed in paper format shall include a signed
original and five copies of the Schedule, including all exhibits. See Rule
13d-7 for other parties to whom copies are to be sent. The information
required on this cover page shall not be deemed to be "filed" for the purpose
of Section 18 of the Securities Exchange Act of 1934 ("Exchange Act") or
otherwise subject to the liabilities of that section of the Exchange Act but
shall be subject to all other provisions of the Exchange Act (however, see the
Notes)
(Continued on following pages)
(Page 1 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 2 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Opportunities Partners L.P.
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
15,069,728
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,069,728
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
15,069,728
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.1%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------------------------------------------------------------------------------------------
(Page 2 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 3 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Opportunities Partners (Bermuda) L.P.
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
5,251,080
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,251,080
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
5,251,080
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------------------------------------------------------------------------------------------
(Page 3 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 4 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Advisers LLC
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
1A
---------------------------------------------------------------------------------------------
(Page 4 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 5 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
David J. Matlin
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------------------------------------------------------------------------------------------
(Page 5 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 6 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Mark R. Patterson
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------------------------------------------------------------------------------------------
(Page 6 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 7 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Partners LLC
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
---------------------------------------------------------------------------------------------
(Page 7 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 8 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Asset Management LLC
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON
WITH 0
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
---------------------------------------------------------------------------------------------
(Page 8 of 20)
SCHEDULE 13D
---------------------------------------------------------------------------------------------
CUSIP No. 629377508 Page 7 of 20 Pages
---------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson LLC
---------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) / X/
---------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
---------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
---------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------------------------------------------------------------------------------
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY EACH 0
REPORTING
PERSON WITH
---------------------------------------------------------------------------------------------
8 SHARED VOTING POWER
20,320,808
---------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,320,808
---------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,320,808
---------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.3%
---------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
---------------------------------------------------------------------------------------------
(Page 9 of 20)
Introduction.
This Schedule 13D Statement (this "Statement") is filed on behalf of
(i) MatlinPatterson Global Opportunities Partners L.P., ("Matlin Partners
(Delaware)") a limited partnership organized under the laws of Delaware, and
MatlinPatterson Global Opportunities Partners (Bermuda) L.P. ("Matlin Partners
(Bermuda)" and collectively with Matlin Partners (Delaware), "Matlin
Partners"), an exempt limited partnership organized under the laws of Bermuda
(ii) MatlinPatterson Global Advisers LLC, ("Matlin Advisers") a limited
liability company organized under the laws of Delaware, by virtue of their
investment authority over securities held by Matlin Partners, (iii)
MatlinPatterson Global Partners LLC, ("Matlin Global Partners") a limited
liability company organized under the laws of Delaware, as general partner of
Matlin Partners, (iv) MatlinPatterson Asset Management LLC, ("Matlin Asset
Management") a limited liability company organized under the laws of Delaware,
as the holder of all of the membership interests in Matlin Global Partners and
Matlin Advisers, (v) MatlinPatterson LLC, ("MatlinPatterson") a limited
liability company organized under the laws of Delaware, as the holder of all
of the membership interests in Matlin Asset Management, (vi) and Mark
Patterson and David Matlin each as a holder of 50% of the membership interests
in MatlinPatterson (Matlin Partners (Delaware), Matlin Partners (Bermuda),
Matlin Advisers, Matlin Global Partners, Matlin Asset Management,
MatlinPatterson, Mark Patterson and David Matlin, collectively, the "Reporting
Persons" and each a "Reporting Person"), for the purpose of disclosing the
acquired beneficial ownership of the Reporting Persons in the Issuer (as
defined below) pursuant to the Debtor's Second Amended Joint Plan of
Reorganization under Chapter 11 of the Bankruptcy Code, dated October 10,
2003, which was confirmed on November 25, 2003 and declared effective on
December 5, 2003 by the Bankruptcy Court (Case No. 03-13024 (PCB)) (the
"Plan").
Item 1. Security and Issuer
The name of the issuer is NRG Energy, Inc. (the "Issuer"). This
Statement relates to the Issuer's common stock, par value $0.01 per share (the
"Common Stock"). The principal executive offices of the Issuer are located at
901 Marquette Avenue, Suite 2300, Minneapolis, Minnesota 55402.
Item 2. Identity and Background
(i) Matlin Partners (Delaware) is a limited partnership organized
under the laws of Delaware. Matlin Partners (Delaware) generally invests in
equity and subordinated debt securities of companies. The address of Matlin
Partners (Delaware)'s principal business and principal office is c/o Matlin
Global Partners 520 Madison Avenue, New York, New York 10022.
(ii) Matlin Partners (Bermuda) is an exempt limited partnership
organized under the laws of Bermuda. Matlin Partners (Bermuda) generally
invests in equity and subordinated debt securities of companies. The address
of Matlin Partners (Bermuda)'s principal business and principal office is c/o
Quorum International Limited, Reid House, 31 Church Street, Hamilton, Bermuda.
(Page 10 of 20)
(iii) Matlin Global Partners is a limited liability company
organized under the laws of Delaware. Matlin Global Partners serves as General
Partner of Matlin Partners (Delaware) and Matlin Partners (Bermuda). The
address of Matlin Global Partners' principal business and principal office is
520 Madison Avenue, New York, New York 10022. The principal business of Matlin
Global Partners is acting as the general partner to Matlin Partners (Delaware)
and Matlin Partners (Bermuda).
(iv) Matlin Advisers is a limited liability company organized under
the laws of Delaware. Matlin Advisers serves as investment advisor to Matlin
Partners (Delaware) and Matlin Partners (Bermuda). The address of Matlin
Advisers' principal business and principal office is 520 Madison Avenue, New
York, New York 10022. Matlin Advisers performs certain investment advisory
services on behalf of Matlin Partners (Delaware) and Matlin Partners
(Bermuda), pursuant to a certain amended and restated Investment Advisory
Agreement dated as of July 17, 2002 among Matlin Advisers, Matlin Partners
(Delaware) and Matlin Partners (Bermuda).
(v) Matlin Asset Management is a limited liability company organized
under the laws of Delaware. Matlin Asset Management is the holder of all of
the membership interests in Matlin Global Partners and Matlin Advisers. The
address of Matlin Asset Management's principal business and principal office
is 520 Madison Avenue, New York, New York 10022. Matlin Asset Management's
principal business is owning Matlin Global Partners and Matlin Advisers.
(vi) MatlinPatterson is a limited liability company organized under
the laws of Delaware. MatlinPatterson is the holder of all of the membership
interests in Matlin Asset Management. The address of MatlinPatterson's
principal business and principal office is 520 Madison Avenue, New York, New
York 10022. MatlinPatterson's principal business is owning Matlin Asset
Management.
(vii) Mark R. Patterson and David J. Matlin are each the holder of
50% of the membership interests in MatlinPatterson. The address of Mark R.
Patterson and David J. Matlin's principal business office is 520 Madison
Avenue, New York, New York 10022. Mark R. Patterson's present principal
occupation is acting as Chairman of Matlin Advisers and David J. Matlin's
present principal occupation is acting as Chief Executive Officer of Matlin
Advisers. Mark R. Patterson and David J. Matlin are citizens of the United
States of America.
(viii) In the past five years, the Reporting Persons have not been
(a) convicted in a criminal proceeding (other than traffic violations or
similar misdemeanors) or (b) been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction in which it was or is subject
to a judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws nor has it been found to have violated such laws.
Item 3. Source and Amount of Funds or Other Consideration
The information set forth in Item 4 is hereby incorporated by
reference into this Item 3.
(Page 11 of 20)
On December 5, 2003, pursuant to the Plan, Matlin Partners
(Delaware) acquired beneficial ownership of approximately 15,069,728 shares of
Common Stock as part of the consideration for the cancellation of certain debt
instruments (and all pre-petition interest thereon and other amounts owing in
respect thereof) which had been acquired by Matlin Partners (Delaware) through
a series of trades at an aggregate cost of $231,132,813.10 as follows:
$118,687,931.00 principal amount 6.75% Senior Notes of the Issuer due July 15,
2006 and all pre-petition interest thereon acquired by Matlin Partners
(Delaware) at a total cost of $28,651,951.77; $75,048,266.00 principal amount
7.5% Senior Notes of the Issuer due June 1, 2009 and all pre-petition interest
thereon acquired by Matlin Partners (Delaware) at a total cost of
$18,659,235.88; $85,101,275.00 principal amount 7.5% Senior Notes of the
Issuer due June 15, 2007 and all pre-petition interest thereon acquired by
Matlin Partners (Delaware) at a total cost of $20,601,521.93; $16,463,319.00
principal amount 7.625% Senior Notes of the Issuer due February 1, 2006 and
all pre-petition interest thereon acquired by Matlin Partners (Delaware) at a
total cost of $3,897,207.43; $128,956,740.00 principal amount 7.75% Senior
Notes of the Issuer due April 1, 2011 and all pre-petition interest thereon
acquired by Matlin Partners (Delaware) at a total cost of $31,640,179.03;
$62,308,475.00 principal amount 8% Remarketable or Redeemable Securities of
the Issuer due November 1, 2013 with a remarketing date of November 1, 2003
and all pre-petition interest thereon acquired by Matlin Partners (Delaware)
at a total cost of $17,062,360.87; $123,389,618.00 principal amount 8.25%
Senior Notes of the Issuer due September 15, 2010 and all pre-petition
interest thereon acquired by Matlin Partners (Delaware) at a total cost of
$31,904,803.69; $211,664,902.00 principal amount 8.625% Senior Notes of the
Issuer due April 1, 2031 and all pre-petition interest thereon acquired by
Matlin Partners (Delaware) at a total cost of $52,598,125.53; and
$51,614,734.00 principal amount 8.7% Remarketable or Redeemable Securities of
the Issuer due March 15, 2005 and all pre-petition interest thereon acquired
by Matlin Partners (Delaware) at a total cost of $12,717,746.29. Cash and
notes make up the balance of the consideration for the cancellation of the
above referenced debt as described in Item 4 below.
On December 5, 2003, pursuant to the Plan, MatlinPartners (Bermuda)
acquired beneficial ownership of approximately 5,251,080 shares of Common
Stock as part of the consideration for the cancellation of certain debt
instruments (and all pre-petition interest thereon and other amounts owing in
respect thereof) which had been acquired by Matlin Partners (Bermuda) through
a series of trades at an aggregate cost of $80,538,735.34 as follows:
$41,357,069.00 principal amount 6.75% Senior Notes of the Issuer due July 15,
2006 and all pre-petition interest thereon acquired by Matlin Partners
(Bermuda) at a total cost of $9,983,835.34; $26,150,734.00 principal amount
7.5% Senior Notes of the Issuer due June 1, 2009 and all pre-petition interest
thereon acquired by Matlin Partners (Bermuda) at a total cost of
$6,501,852.04; $29,653,725.00 principal amount 7.5% Senior Notes of the Issuer
due June 15, 2007 and all pre-petition interest thereon acquired by Matlin
Partners (Bermuda) at a total cost of $7,178,645.38; $5,736,681.00 principal
amount 7.625% Senior Notes of the Issuer due February 1, 2006 and all
pre-petition interest thereon acquired by Matlin Partners (Bermuda) at a total
cost of $1,357,990.77; $44,935,260.00 principal amount 7.75% Senior Notes of
the Issuer due April 1, 2011 and all pre-petition interest thereon acquired by
Matlin Partners (Bermuda) at a total cost of $11,025,090.10; $21,711,525.00
principal amount 8% Remarketable or Redeemable Securities of the Issuer due
November 1, 2013 with a remarketing date of November 1, 2003 and all
pre-petition interest thereon acquired by Matlin Partners (Bermuda) at a total
cost of $5,945,417.14; $42,995,382.00 principal amount 8.25% Senior Notes of
the Issuer due September 15, 2010 and all pre-petition interest thereon
(Page 12 of 20)
acquired by Matlin Partners (Bermuda) at a total cost of $11,117,298.71;
$73,755,098.00 principal amount 8.625% Senior Notes of the Issuer due April 1,
2031 and all pre-petition interest thereon acquired by Matlin Partners
(Bermuda) at a total cost of $18,327,931.95; and $17,985,266.00 principal
amount 8.7% Remarketable or Redeemable Securities of the Issuer due March 15,
2005 and all pre-petition interest thereon acquired by Matlin Partners
(Bermuda) at a total cost of $4,431,526.25. Cash and notes make up the balance
of the consideration for the cancellation of the above referenced debt as
described in Item 4 below.
The Issuer has not yet issued the shares of Common Stock or the
notes nor distributed the cash amounts, to be issued and distributed to Matlin
Partners (Delaware) and Matlin Partners (Bermuda) as consideration for the
cancellation of the debt obligations of the Issuer as described in this Item 3
but will do so as soon as practicable.
The Reporting Persons paid cash from working capital for the
cancelled debt instruments. No funds were borrowed or otherwise obtained for
the purpose of acquiring, holding, trading or voting the Common Stock.
Item 4. Purpose of Transaction
Pursuant to the Plan, the Reporting Persons have received or will
receive, as soon as practicable and in accordance with the documents executed
in connection with the Plan, as consideration for the cancellation of debt
obligations acquired through open market purchases and having an approximate
principal amount of $1.2 billion approximately, (i) 20,320,808 shares of
Common Stock, (ii) notes of the reorganized Issuer for an aggregate principal
amount of $101,604,039 (unless substituted with cash as contemplated under the
Plan), and (iii) cash for an amount of $79,787,287 (or $181,391,326 in the
event cash is paid in lieu of the notes identified in (ii)), in each case,
subject to adjustments pursuant to the Plan's reallocation procedures and
treatment of disputed claims (each described below). The shares of Common
Stock to be acquired by the Reporting Persons pursuant to the Plan represent,
in the aggregate, approximately 20.3% of the shares of Common Stock of the
reorganized Issuer, subject to adjustments pursuant to the Plan's reallocation
procedures and treatment of disputed claims (each described below). Pursuant
to the reallocation procedures set forth in Article V of the Plan, each
creditor in Classes 5 and 6 was eligible to elect to contribute (i) all of
their shares of Common Stock in the reorganized Issuer at the standard rate of
$22.25 per share or at a lower price per share (ranging from $16.00 to $22.00
in 1/4 point intervals), and/or (ii) all or a portion (ranging from 0% to
100%) of the notes and cash to be distributed to such creditor under the Plan.
The reallocation is to be effectuated "dutch auction" style first by
exchanging those shares of Common Stock offered into the reallocation pool for
cash starting at the lowest price per share selected until all of the cash or
the shares of Common Stock in the reallocation pool is exhausted. Next, any
remaining shares of Common Stock would be exchanged for notes, again starting
at the lowest price per share selected until all of the notes or shares of
Common Stock are exhausted. The result is that the distribution to each
participating creditor, including the Reporting Persons, of Common Stock, cash
and notes may change after giving effect to the outcome of the reallocation
procedure.
The cash portion of the consideration is to be paid through a
combination of the reorganized Issuer's cash on hand and Xcel Energy Inc.'s
("Xcel") contribution of the "release-based" cash amount. The release-based
cash amount is to be paid out over time as it is received by the reorganized
Issuer from Xcel, pursuant to the terms of that certain Settlement Agreement
(Page 13 of 20)
with Xcel entered into as part of the Plan. The first and second installments
of $200 million in the aggregate is due to be paid by Xcel 90 days after the
date on which the Bankruptcy Court entered the order confirming the Issuer's
Plan. The third installment is to be paid on April 30, 2004, unless extended
pursuant to the terms of the Settlement Agreement. Under certain circumstances
specified under the Settlement Agreement, a portion of the Xcel contribution
described above can be made with shares of Xcel common stock (NYSE: XEL),
which, pursuant to Section 8.7 of the Plan, can be liquidated by the
reorganized Issuer and the proceeds thereof distributed to Class 5 creditors.
In addition, the Reporting Persons would be entitled to receive their pro rata
portion of up to an additional $150 million of cash that, subject to the
satisfaction of certain conditions, may be available for distribution under
the Plan.
Pursuant to Article X of the Plan, the Issuer and certain of its
affiliates shall establish a disputed claims reserve to be funded with the
appropriate number of shares, notes and cash for distribution to holders of
disputed claims that subsequently become allowed by the Bankruptcy Court.
Distributions from the disputed claims reserve will be made on a quarterly
basis to holders of disputed claims that have become allowed. The Reporting
Persons' percentage ownership may vary depending on whether the amount of
disputed claims ultimately allowed is greater or less than the amount
reserved.
On December 5, 2003 and in accordance with Section 8.2(b) of the
provisions of the Plan, three representatives of the Reporting Persons became
directors of the reorganized Issuer. Section 8.2(b) of the Plan provides, in
pertinent part, that the "board of directors for Reorganized NRG shall consist
of the post-reorganization CEO and ten (10) individuals, of which six (6)
directors shall be designated by the members of the Noteholder Group serving
on the Committee...", which includes the Reporting Persons. It is pursuant to
this provision of the Plan that the Reporting Persons obtained its three seats
on the reorganized Issuer's board of directors.
Mark R. Patterson, a holder of 50% of the membership interests of
MatlinPatterson, serves on the board of directors of the Issuer. As a director
of the Issuer, Mark R. Patterson may have influence over the corporate
activities of the Issuer, including activities which may relate to items
described in Items 4(a) - (j) of Schedule 13D.
Ramon Betolaza, an employee of Matlin Advisers, serves on the board
of directors of the Issuer. As a director of the Issuer, Ramon Betolaza may
have influence over the corporate activities of the Issuer, including
activities which may relate to items described in Items 4(a) - (j) of Schedule
13D.
Frank Plimpton, an employee of Matlin Advisers, serves on the board
of directors of the Issuer. As a director of the Issuer, Frank Plimpton may
have influence over the corporate activities of the Issuer, including
activities which may relate to items described in Items 4(a) - (j) of Schedule
13D.
The Reporting Persons acquired beneficial ownership of the shares of
Common Stock and the notes for investment purposes. The Reporting Persons may
from time to time (i) acquire additional Common Stock, notes or other
securities of the reorganized Issuer (subject to availability at prices deemed
favorable, the reorganized Issuer's business or financial condition and to
other factors and conditions the Reporting Persons deem appropriate) in the
open market, in privately negotiated transactions or otherwise, or (ii)
dispose of the shares of Common Stock,
(Page 14 of 20)
notes or any other securities of the reorganized Issuer that the Reporting
Persons may acquire, when prices are deemed favorable in the open market, in
privately negotiated transactions or otherwise, in each case subject to the
factors and conditions referred to above and compliance with applicable laws.
Except as set forth in this Item 4, none of the Reporting Persons has any
other plans which relate to or would result in any of the items listed in
paragraphs (a) through (j) of the instructions to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
The information set forth in Item 3 is hereby incorporated by
reference into this Item 5.
(a) As of the date hereof, Matlin Partners (Delaware) and Matlin Partners
(Bermuda) are each a direct beneficial owner of approximately 15,069,728 and
approximately 5,251,080 shares of Common Stock, respectively, and
MatlinPatterson, Matlin Asset Management, Matlin Advisers, Matlin Global
Partners, Mark R. Patterson and David J. Matlin are each an indirect
beneficial owner of approximately 20,320,808 shares of Common Stock. The
approximately 20,320,808 shares of Common Stock represent approximately 20.3%
of the Issuer's issued and outstanding shares of Common Stock. The
approximately 15,069,728 shares of Common Stock and approximately 5,251,080
shares of Common Stock, when issued, will represent approximately 15.1% and
5.3% of the Issuer's issued and outstanding shares of Common Stock,
respectively.
(i) Matlin Global Partners serves as General Partner of Matlin
Partners (Delaware) and Matlin Partners (Bermuda). By reason of such
relationships, Matlin Global Partners may be deemed to beneficially own share
the shares beneficially owned by Matlin Partners.
(ii) Matlin Advisers serves as investment advisor to Matlin
Partners. By reason of such relationships, Matlin Advisers may be deemed to
beneficially own the shares beneficially owned by Matlin Partners.
(iii) Matlin Asset Management is the holder of all of the membership
interests in Matlin Global Partners and Matlin Advisers. By reason of such
relationships, Matlin Asset Management may be deemed to beneficially own the
shares beneficially owned by Matlin Partners.
(iv) MatlinPatterson is the holder of all of the membership
interests in Matlin Asset Management. By reason of such relationship,
MatlinPatterson may be deemed to beneficially own the shares beneficially
owned by Matlin Partners.
(v) Mark R. Patterson and David J. Matlin are the holders of all of
the membership interests in MatlinPatterson. By reason of such relationships,
each of Mark Patterson and David Matlin may be deemed to share voting and
dispositive power over the shares beneficially owned by Matlin Partners.
(b) Matlin Partners (Delaware) and Matlin Partners (Bermuda) have
shared power to vote and shared dispositive power of 15,069,728 shares of
Common Stock and 5,251,080 shares of Common Stock, respectively.
MatlinPatterson, Matlin Asset Management, Matlin Advisers,
(Page 15 of 20)
Matlin Global Partners, Mark R. Patterson and David J. Matlin each have shared
power to vote and shared dispositive power of 20,320,808 shares of Common
Stock.
(c) Except as reported in this Statement, none of the Reporting
Persons has effected any transaction in the Common Stock during the past 60
days.
(d) To the best knowledge of MatlinPatterson, Matlin Asset
Management, Matlin Advisers and Matlin Global Partners with respect to the
directors and executive officers named in this Statement, none of the persons
(i) beneficially owns any shares of Common Stock (other than in his or her
capacity as a controlling member, executive officer or director of such
corporation or limited liability company) or (ii) has the right to acquire any
Common Stock owned by other parties.
(e) The filing of this Statement shall not be construed as an
admission by any of the Reporting Persons that it is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of Common Stock
owned by other parties.
(f) Except as reported in this Statement, no other person is known
to any of the Reporting Persons to have the right to receive or the power to
direct the receipt of dividends from, or proceeds from the sale of, any shares
of the Common Stock held by the Reporting Persons.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer
Pursuant to a Registration Rights Agreement (the "Common Stock
Registration Rights Agreement") dated as of December 5, 2003, to be entered
into among the Issuer, Matlin Partners (Delaware), Matlin Partners (Bermuda)
and the other parties thereto the date on which the shares of Common Stock
will be issued to the parties thereto, Matlin Partners (Delaware) and Matlin
Partners (Bermuda) will have the right, on the terms and conditions set forth
therein, to require the Issuer to register for sale to the public their shares
of Common Stock. Reference is made to the Form of Common Stock Registration
Rights Agreement filed as Exhibit 3 hereto, which is incorporated herein by
reference.
Pursuant to a Registration Rights Agreement (the "Notes Registration
Rights Agreement") dated as of December 5, 2003, to be entered into, to the
extent the Reporting Persons receive notes, among the Issuer, Matlin Partners
(Delaware) and Matlin Partners (Bermuda) the date on which the notes will be
issued to the parties thereto, Matlin Partners (Delaware) and Matlin Partners
(Bermuda) will have been granted certain shelf registration rights, on the
terms and conditions set forth therein, with respect to their notes. Reference
is made to the Form of Notes Registration Rights Agreement filed as Exhibit 4
hereto, which is incorporated herein by reference.
Except as described elsewhere in this Statement and as set forth in
the Common Stock Registration Rights Agreement and the Notes Registration
Rights Agreement, to the best knowledge of the Reporting Persons, there exist
no contracts, arrangements, understandings or relationships (legal or
otherwise) among the persons named in Item 2 and between such persons
(Page 16 of 20)
and any person with respect to any securities of the Issuer, including but not
limited to transfer or voting of any securities of the Issuer, finder's fees,
joint ventures, loan or option arrangements, puts or calls, guarantees of
profits, division of profits or loss, or the giving or withholding of proxies.
Item 7. Materials to be Filed as Exhibits
Exhibit No. Description
1 Joint Filing Agreement dated as of December 15,
2003, by and among MatlinPatterson LLC,
MatlinPatterson Asset Management LLC,
MatlinPatterson Global Advisers LLC, MatlinPatterson
Global Partners LLC, MatlinPatterson Global
Opportunities Partners L.P., MatlinPatterson Global
Opportunities Partners (Bermuda) L.P., David J.
Matlin and Mark R. Patterson.
2(a) Debtor's Second Amended Joint Plan of Reorganization
of NRG Energy, Inc. and its affiliates under Chapter
11 of the Bankruptcy Code, dated October 10, 2003.
3 Form of Common Stock Registration Rights Agreement
dated as of December 5, 2003 to be entered into
among NRG Energy, Inc. and the holders named
therein.
4 Form of Notes Registration Rights Agreement dated as
of December 5, 2003 to be entered into among NRG
Energy, Inc. and the holders named therein.
------------------------
(a) Incorporated by reference from Exhibit 99.1 to the Form 8-K filed on
November 19, 2003 by NRG Energy, Inc.
(Page 17 of 20)
SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this Statement is true,
complete and correct.
Dated: December 15, 2003
MATLINPATTERSON LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Member
MATLINPATTERSON ASSET MANAGEMENT LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Chairman
MATLINPATTERSON GLOBAL ADVISERS LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Chairman
MATLINPATTERSON GLOBAL PARTNERS LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Director
MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Director
(Page 18 of 20)
MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS (BERMUDA) L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
Title: Director
DAVID J. MATLIN
By: /s/ David J. Matlin
------------------------------------------------------
Name: David J. Matlin
MARK R. PATTERSON
By: /s/ Mark R. Patterson
------------------------------------------------------
Name: Mark R. Patterson
(Page 19 of 20)
EXHIBIT INDEX
Exhibit No. Description
1 Joint Filing Agreement dated as of December 15,
2003, by and among MatlinPatterson LLC,
MatlinPatterson Asset Management LLC,
MatlinPatterson Global Advisers LLC, MatlinPatterson
Global Partners LLC, MatlinPatterson Global
Opportunities Partners L.P., MatlinPatterson Global
Opportunities Partners (Bermuda) L.P., David J.
Matlin and Mark R. Patterson.
2(a) Debtor's Second Amended Joint Plan of Reorganization
of NRG Energy, Inc. and its affiliates under Chapter
11 of the Bankruptcy Code, dated October 10, 2003.
3 Form of Common Stock Registration Rights Agreement
dated as of December 5, 2003 to be entered into
among NRG Energy, Inc. and the holders named
therein.
4 Form of Notes Registration Rights Agreement dated as
of December 5, 2003 to be entered into among NRG
Energy, Inc. and the holders named therein.
-----------------
(a) Incorporated by reference from Exhibit 99.1 to the Form 8-K filed on
November 19, 2003 by NRG Energy, Inc.
(Page 20 of 20
Exhibit 1
JOINT FILING AGREEMENT
Dated as of December 15, 2003
In accordance with Rule 13d-1(k)(1) under the Securities Exchange
Act of 1934, as amended, the undersigned hereby agree to the joint filing of
MatlinPatterson LLC, MatlinPatterson Asset Management LLC, MatlinPatterson
Global Advisers LLC, MatlinPatterson Global Partners LLC, MatlinPatterson
Global Opportunities Partners L.P., MatlinPatterson Global Opportunities
Partners (Bermuda) L.P., David J. Matlin and Mark R. Patterson, on behalf of
each of them a statement on Schedule 13D (including amendments thereto) with
respect to shares of common stock, par value $0.01 per share, of NRG Energy,
Inc., and that this Agreement be included as an Exhibit to such joint filing.
This Agreement may be executed in any number of counterparts all of which
taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement
this 15th day of December 2003.
MATLINPATTERSON LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Member
MATLINPATTERSON ASSET MANAGEMENT LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Chairman
MATLINPATTERSON GLOBAL ADVISERS LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Chairman
(Page 1 pf 2)
MATLINPATTERSON GLOBAL PARTNERS LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Director
MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Director
MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS
(BERMUDA) L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
Title: Director
DAVID J. MATLIN
By: /s/ David J. Matlin
----------------------------------------------------
Name: David J. Matlin
MARK R. PATTERSON
By: /s/ Mark R. Patterson
----------------------------------------------------
Name: Mark R. Patterson
(Page 2 of 2)