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Talen Energy Corporation Announces Upsize of Term Loan B Financing and Related Repurchase of Common Stock
HOUSTON, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen” or the “Company”) (NASDAQ: TLN) announced today that the Company has upsized its
About this update from Talen Energy Corporation
[{"type":"text","content":"HOUSTON, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen” or the “Company”) (NASDAQ: TLN) announced today that the Company has upsized its previously announced incremental Term Loan B credit facility from $600 million to $850 million (the “Upsize”). As previously announced, the Company has executed an agreement to repurchase at least $600 million in aggregate purchase price of shares of its outstanding common stock (the “Repurchase”) from affiliates of Rubric Capital Management LP (collectively, “Rubric”). The additional proceeds from the Upsize will be used to repurchase additional shares from Rubric in the Repurchase on the same terms as the initial sizing. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Talen Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/. Investor Relations:Ellen LiuSenior Director, Investor [email protected] Media:Taryne WilliamsDirector, Corporate [email protected] Forward-Looking Statements This communication contains forward-looking statements within the meaning of the federal securities laws, which stat...