Talen Energy Supply, LLC Announces Closing of Senior Secured Notes Offering

THE WOODLANDS, Texas, May 21, 2019 /PRNewswire/ -- Talen Energy Supply, LLC (the "Company" or "Talen Energy Supply") today announced the closing of its previously disclosed offering of $750 million in aggregate principal amount of 7.25% Senior Secured Notes due 2027 (the "Notes"). The net proceeds from the notes offering were used to repurchase certain of the Company's existing senior notes in connection with tender offers and consent solicitations, and the remaining net proceeds were used, together with cash on hand, to repay $100 million of borrowings under the Company's senior secured term loan due 2023 and $150 million of borrowings under the Company's senior secured revolving credit facility.

The Notes will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration requirements.

This announcement is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and does not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to purchase or the solicitation of an offer to sell the Company's 4.600% Senior Notes due 2021, 9.500% Senior Notes due 2022 or 6.500% Senior Guaranteed Notes due 2024, which are the subject of the tender offers.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

About Talen Energy Supply

Talen Energy Supply is one of the largest competitive energy and power generation companies in North America. The Company owns or controls approximately 15,000 megawatts of generating capacity in well-developed, structured wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States.

Investor Contacts

Stacey Peterson
Senior Vice President, Treasurer, and Head of Investor Relations
[email protected]

Ryan Koren
Senior Manager, Investor Relations and FP&A
610-601-0477
[email protected]

Media Contact

Taryne Williams
Media & Community Relations Manager
610-601-0327
[email protected]

SOURCE Talen Energy Supply

SOURCE Talen Energy Supply, LLC

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