Talen Energy closes upsized $848 million first-lien revolver

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – Talen Energy Corp. and wholly owned subsidiary Talen Energy Supply LLC upsized and closed on the previously announced first-lien revolving credit facility commitment led by GoldenTree Asset Management LP and Silver Point Finance, LLC, according to a press release.

The financing was increased to $848 million from a previously announced $788 million.

The first-lien facility matures in September 2024.

Proceeds will be used to fund elevated commodity working capital requirements during the winter period and repay around $238 million under an existing revolving credit facility.

Talen Energy Supply retained White & Case LLP and Weil, Gotshal & Manges LLP as its legal advisers, and Evercore as its investment banker for this financing.

Talen Energy is an Allentown, Pa.-based utility network operator.

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