Talen Energy Corporation Announces Launch of $600 Million Term Loan B Financing and Repurchase of Common Stock
Talen Energy Corporation (TLN)
Company Research
Source: GlobeNewswire
HOUSTON, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen” or the “Company”) (NASDAQ: TLN) announced today that the Company has launched an incremental Term Loan B credit facility (the “Financing”) that will increase the principal Term Loan B balance under its credit facilities from $859 million to approximately $1.459 billion. The Company also expects to replace its existing Term Loan C facility with a new letter of credit facility. The Company has concurrently 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 Repurchase is priced at a 4% discount to a 15-day VWAP prior to the closing of the Repurchase and is conditioned on the completion of the Financing. This transaction is incremental to the Company’s previously announced share repurchase program. That program will have approximately
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News
- Talen Energy to appeal FERC's rejection of Amazon data center deal [Yahoo! Finance]Yahoo! Finance
- Talen Energy Statement on FERC Order Deferring its Request for Rehearing of Susquehanna ISAGlobeNewswire
- Talen Energy Corporation Announces Successful Completion of Refinancing TransactionsGlobeNewswire
- Talen Energy Corporation Announces Closing of Incremental Term Loan B Financing and Related Repurchase of Common StockGlobeNewswire
- Talen Energy Corporation (NASDAQ: TLN) had its price target raised by analysts at Barclays PLC from $202.00 to $245.00. They now have an "overweight" rating on the stock.MarketBeat
TLN
Earnings
- 11/14/24 - Beat
TLN
Sec Filings
- 12/20/24 - Form 424B3
- 12/20/24 - Form 8-K
- 12/16/24 - Form 4
- TLN's page on the SEC website