Shares of NRG Energy (NYSE:NRG) edged higher Tuesday after the wholesale power generator announced an offering to qualified institutional buyers for $1.2 billion in senior notes due 2018.

The Princeton, N.J.-based company plans on using proceeds from the deal to buy the same amount of 7.25% senior notes due 2014.

NRG has commenced the tender offer, and said it will expire at the end of the day on Feb. 8.

Holders of the 2014 notes who validly tender their notes before 5 PM EST on Jan. 25 will receive the “total consideration” of $1,020.63 per 1,000 notes. 

Those who tender their notes between Jan. 25 and the expiration date will receive only the “tender consideration” of $1,000.63 for every $1,000 in notes.