Talen Energy Supply 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 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.
JPMorgan Chase Bank, Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley Senior Funding, MUFG Bank, and Natixis, New York Branch are lead arrangers for the facility.
The closing of the new term loan B facility is subject to finalization of definitive documentation and satisfaction of customary closing conditions.
Woodland, TX-based Talen Energy 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 U.S.