ALLENTOWN, Pa., March 30, 2017 /PRNewswire/ -- Talen Energy Supply, LLC ("Talen Energy Supply") announced on March 30, 2017 that it intends to offer, subject to market and other conditions, up to $500 million aggregate principal amount of its senior unsecured guaranteed notes due 2022 (the "Notes") in a private offering. The Notes will be guaranteed by certain of Talen Energy Supply's subsidiaries that guarantee its existing indebtedness. Talen Energy Supply intends to use the net proceeds from the offering, together with proceeds from term loan borrowings and cash on hand and/or revolver borrowings, to refinance, repurchase and/or repay certain of Talen Energy Supply's existing indebtedness, including in connection with the previously announced tender offers for Talen Energy Supply's 6.500% Senior Notes due 2018, 4.625% Senior Notes due 2019 and 4.600% Senior Notes due 2021, and to pay transaction fees and expenses.
The Notes will be offered only to qualified institutional buyers as defined under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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 Supply is an indirect wholly owned subsidiary of Talen Energy Corporation.
This news release includes statements regarding the proposed 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 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.
SOURCE Talen Energy Corporation