Talen Energy Supply, LLC Announces Intention to Syndicate New $400 Million Term Loan Facility and to Reprice Existing Term Loan Facility

ALLENTOWN, Pa., March 30, 2017 /PRNewswire/ -- Talen Energy Supply, LLC ("Talen Energy") announced on March 30, 2017 that it intends to syndicate a new $400 million secured Term Loan B facility and to reprice its existing $600 million Term Loan B facility.  Talen Energy expects to use the proceeds of the new $400 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, including in connection with the previously announced tender offers for Talen Energy'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 lead arrangers for the new Term Loan B facility will be Morgan Stanley, Goldman Sachs, Deutsche Bank Securities, MUFG, Credit Suisse and RBC Capital Markets.  Talen Energy expects the new Term Loan B facility to contain terms and conditions consistent with its existing revolving credit facility.  There can be no assurance that the syndication of the new Term Loan B facility or the repricing of the existing Term Loan B facility will be completed on terms satisfactory to Talen Energy or at all.

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.

Investor Contact: Andy Ludwig, Director, Investor Relations
(610) 601-0185
Andy.ludwig@talenenergy.com
www.talenenergy.com

SOURCE Talen Energy Corporation