Talen Energy Announces Closing of $2.69 Billion Senior Notes Offerings

Core Points - Talen Energy Corporation has completed offerings of $1.40 billion in 6.250% senior notes due 2034 and $1.29 billion in 6.500% senior notes due 2036, exempt from registration under the Securities Act [1][4] - The net proceeds from these offerings, along with a new $1.2 billion senior secured term loan B credit facility, will be used to fund the acquisitions of the Freedom Energy Center and the Guernsey Power Station [2] - The Freedom Energy Center has a capacity of 1,045 MW, while the Guernsey Power Station has a capacity of 1,836 MW, both being natural gas-fired combined cycle generation plants [2] - If the acquisitions are not completed by the specified Outside Date, the company will be obligated to redeem portions of the senior notes [3] Financial Details - The total amount raised from the senior notes offerings is $2.69 billion [1] - The company plans to redeem $625 million of the 2034 Notes and $575 million of the 2036 Notes if the Freedom Acquisition is not completed [3] - In the case of the Guernsey Acquisition not being completed, the company will redeem $900 million of the 2034 Notes and $790 million of the 2036 Notes [3] Company Overview - Talen Energy operates approximately 10.3 gigawatts of power infrastructure in the U.S., including 2.2 gigawatts of nuclear power [6] - The company is positioned to serve the growing demand for reliable, clean power, particularly for artificial intelligence data centers [6]