Talen Energy Supply, LLC Announces Early Tender Results
Talen Energy Supply, LLC (the "Company" or "Talen Energy Supply") announced the early tender results for its previously announced tender offers (the "Tender Offers") to purchase for cash up to a maximum aggregate principal amount of $900,000,000 (the "Aggregate Maximum Tender Amount") of its 4.625% Senior Notes due 2019 (the "2019 Notes"), its 6.500% Senior Notes due 2018 (the "2018 Notes") and its 4.600% Senior Notes due 2021 (the "2021 Notes" and, together with the 2019 Notes and the 2018 Notes, the "Securities"). The Tender Offers were made pursuant to the terms and conditions set forth in the offer to purchase, dated March 30, 2017 (the "Offer to Purchase").
As of the previously announced early tender date and time of 5:00 p.m., New York City time, on April 12, 2017 (the "Early Tender Date"), according to information provided by D.F. King & Co., Inc., the tender agent for the Tender Offers, a total of $1,093,092,000 aggregate principal amount of the 2019 Notes, $330,695,000 aggregate principal amount of the 2018 Notes and $309,765,000 aggregate principal amount of the 2021 Notes had been validly tendered and not validly withdrawn in the Tender Offers. Since the aggregate principal amount of the 2019 Notes validly tendered and not validly withdrawn would exceed the Aggregate Maximum Tender Amount, the Company will not accept for purchase any 2018 Notes or 2021 Notes that have been tendered. Rather, the Company will prorate the 2019 Notes accepted for purchase using a proration factor of approximately 82.4%. Withdrawal rights for the Securities expired at 5:00 p.m., New York City time, on April 12, 2017. The table below sets forth the aggregate principal amount of the Securities that were validly tendered and not validly withdrawn by the Early Tender Date that will be accepted for purchase by the Company.
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Talen Energy Corporation