Talen Energy Supply, LLC Announces Pricing of New $500 Million Term Loan Facility

THE WOODLANDS, Texas, June 28, 2019 /PRNewswire/ -- Talen Energy Supply, LLC (the "Company" or "Talen Energy") today announced that it has priced a new seven-year $500 million secured Term Loan B facility. The new Term Loan B facility priced at L+375. Talen Energy expects to use the net proceeds of the new Term Loan B facility, together with cash on hand and the net proceeds from the Company's previously announced $470 million senior secured notes offering, to repay in full the Company's existing Term Loan B-1 and Term Loan B-2 and to pay transaction fees and expenses.

Talen Energy Logo (PRNewsfoto/Susquehanna Nuclear LLC)

The lead arrangers for the new Term Loan B facility are JPMorgan Chase Bank, N.A., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding, Inc., MUFG Bank, Ltd. and Natixis, New York Branch.

The closing of the new Term Loan B facility is 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. The Company owns or controls approximately 15,000 MW of generating capacity in well-developed, structured wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

Investor Contacts

Stacey Peterson
Senior Vice President, Treasurer, and Head of Investor Relations

Ryan Koren
Senior Manager, Investor Relations and FP&A

Media Contact

Taryne Williams
Media & Community Relations Manager

SOURCE Talen Energy Supply