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Talen Energy Supply
Talen Energy Supply, LLC Announces Pricing of New $500 Million Term Loan Facility and Repricing of Existing $600 Million Term Loan Facility



April 11, 2017

Talen Energy Supply, LLC ("Talen Energy") announced on April 7, 2017 that it has priced a new $500 million secured Term Loan B facility and repriced its existing $600 million Term Loan B facility.  The new $500 million secured Term Loan B facility priced at L+400 and the price on the existing Term Loan B facility was reduced 100 basis points from L+500 to L+400.  Talen Energy expects to use the proceeds of the new $500 million Term Loan B facility, together with the proceeds from a new senior guaranteed notes offering, to refinance, repurchase and/or repay certain of Talen Energy's existing indebtedness, and to pay transaction fees and expenses.

The lead arrangers for the new Term Loan B facility are Morgan Stanley, Goldman Sachs, Deutsche Bank Securities, MUFG, Credit Suisse and RBC Capital Markets.   

The closings of the new term loan and the repricing transaction are subject to finalization of definitive documentation and satisfaction of customary closing conditions.

About Talen Energy Supply

Talen Energy is one of the largest competitive energy and power generation companies in North America. Talen Energy produces and sells electricity, capacity and ancillary services from its fleet of power plants totaling approximately 16,000 MW (summer rating) of generating capacity as of December 31, 2016. Talen Energy's portfolio of generation assets is principally located in the Northeast, Mid-Atlantic and Southwest regions of the United States. Talen Energy is an indirect wholly owned subsidiary of Talen Energy Corporation.

Forward-Looking Information

This news release includes statements regarding a potential offering of Notes that may constitute forward-looking statements.   Such statements reflect management's current views with respect to future events and are subject to risk and uncertainties, including, but not limited to: general economic, market, or business conditions. No assurance can be given that the potential offering of Notes discussed above will be consummated on the terms described or at all. Except as required by law, we expressly disclaim any obligation to publicly revise any forward-looking statements contained in this news release to reflect the occurrence of events after the date of this news release.

For more information:

Organization:
Talen Energy Corporation
www.talenenergy.com

Contact:
Andy Ludwig
Financial Analysts
Tel: 610-774-3389


Link http://www.electricenergyonline.com/detail_news.php?ID=631578
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