Talen Energy readies launch of $400 million term loan B for Tuesday

By Sara Rosenberg

New York, Oct. 8 – Talen Energy Corp. is set to hold a bank meeting at 11 a.m. ET in New York on Tuesday to launch a $400 million senior secured term loan B, according to a market source.

Citigroup Global Markets Inc. is the lead bank on the deal.

Proceeds will be used to help fund the acquisition of MACH Gen LLC for $1,175,000,000 inclusive of any assumed debt, subject to customary purchase price adjustments.

Closing is expected by year-end, subject to regulatory approvals.

Talen is an Allentown, Pa.-based energy and power generation company. MACH Gen is an Athens, N.Y.-based operator of gas-fired generation plants.

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