Talen Energy

Talen Energy Announces Successful Remarketing of PEDFA Unsecured Municipal Bonds

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木曜日, 6月 13, 2024
Sale, Talen Energy, Marketing, White, LLP, Talen, White & Case

HOUSTON, June 13, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the successful remarketing (the "Remarketing") of $50,000,000 aggregate principal amount of Pennsylvania Economic Development Finance Authority ("PEDFA") Exempt Facilities Revenue Refunding Bonds Series 2009B (PPL Energy Supply, LLC) (the "2009B Bonds") and  $80,570,000 aggregate principal amount of PEDFA Exempt Facilities Revenue Refunding Bonds Series 2009C (PPL Energy Supply, LLC) (the "2009C Bonds" and, together with the 2009B Bonds, the "Bonds").

Key Points: 
  • HOUSTON, June 13, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the successful remarketing (the "Remarketing") of $50,000,000 aggregate principal amount of Pennsylvania Economic Development Finance Authority ("PEDFA") Exempt Facilities Revenue Refunding Bonds Series 2009B (PPL Energy Supply, LLC) (the "2009B Bonds") and  $80,570,000 aggregate principal amount of PEDFA Exempt Facilities Revenue Refunding Bonds Series 2009C (PPL Energy Supply, LLC) (the "2009C Bonds" and, together with the 2009B Bonds, the "Bonds").
  • The Bonds will now bear interest at 5.25% until the end of the new term rate period on June 1, 2027.
  • In connection with the Remarketing, the approximately $133 million of letters of credit that had previously backstopped the Bonds will be terminated, providing Talen with increased capacity on its Term Loan C facility.
  • Talen retained White & Case LLP as its counsel for the Remarketing.

Talen Energy Announces Successful Repricing and Amendment of Term Loans

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水曜日, 5月 8, 2024
Sale, White, Talen, White & Case, Investment, Talen Energy, Bank

HOUSTON, May 8, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the successful completion of a favorable repricing (the "Repricing") of its existing $863 million Term Loan B credit facility and its $470 million Term Loan C credit facility (collectively, the "Term Loans").

Key Points: 
  • HOUSTON, May 8, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the successful completion of a favorable repricing (the "Repricing") of its existing $863 million Term Loan B credit facility and its $470 million Term Loan C credit facility (collectively, the "Term Loans").
  • The new applicable rate for the Term Loans is the Secured Overnight Financing Rate ("SOFR") plus 350 basis points, which reduces the interest rate margin by 100 basis points.
  • The Repricing also reduces the applicable SOFR floor from 50 to 0 basis points.
  • This transaction is expected to result in interest expense savings to Talen of approximately $13 million annually.

Talen Energy Announces Further Updated Timing for Proposed Public Uplisting of Common Stock

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月曜日, 4月 29, 2024
Form, Form S-1, Register, Security (finance), Talen Energy

On January 30, 2024, the Company announced that it expected to update the Registration Statement for financial and operational results for the year ended December 31, 2023.

Key Points: 
  • On January 30, 2024, the Company announced that it expected to update the Registration Statement for financial and operational results for the year ended December 31, 2023.
  • The Company expects to further update the Registration Statement after reporting financial and operational results for the quarter ended March 31, 2024.
  • The uplisting will be effective after the SEC completes its review of the Registration Statement, subject to market and other conditions.
  • This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Talen Energy Announces Plan to Enable Restricted Shares of Common Stock to Trade on OTCQX

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月曜日, 4月 29, 2024
Share (finance), CUSIP, Depository Trust Company, OTCQX, Talen Energy, Security (finance)

HOUSTON, April 29, 2024 /PRNewswire/ -- Talen Energy Corporation (the "Company") (OTCQX: TLNE) announced today that the Company's outstanding restricted shares of common stock issued with or under CUSIP No.

Key Points: 
  • HOUSTON, April 29, 2024 /PRNewswire/ -- Talen Energy Corporation (the "Company") (OTCQX: TLNE) announced today that the Company's outstanding restricted shares of common stock issued with or under CUSIP No.
  • 87422Q208 (the "Shares") will become eligible to be exchanged for unrestricted shares issued with or under CUSIP No.
  • The completion of this exchange will result in the Shares trading on the OTCQX® Best Market ("OTCQX").
  • The Company intends to move forward with the exchange of all restricted Shares as soon as possible upon the Shares becoming eligible.

Talen Energy to Report First Quarter 2024 Financial Results on May 13, 2024

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水曜日, 4月 24, 2024
CDT, EDT, Webcast, Talen Energy

HOUSTON, April 24, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") ( OTCQX: TLNE ) plans to release its first quarter 2024 financial results on Monday, May 13 after market close.

Key Points: 
  • HOUSTON, April 24, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") ( OTCQX: TLNE ) plans to release its first quarter 2024 financial results on Monday, May 13 after market close.
  • President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call to be webcast and teleconferenced at 4:30 p.m. EDT (3:30 p.m. CDT) on May 13.
  • For participants joining the call by phone, please register here immediately prior to the start time.
  • After you register, the system will call you instantly and automatically connect you into the conference call.

Talen Energy Announces Launch of Term Loans Repricing

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水曜日, 4月 24, 2024
Sale, Disclosure, OTC, White, Talen, White & Case, Talen Energy

HOUSTON, April 24, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the launch of an anticipated repricing (the "Repricing") of its existing $863 million Term Loan B credit facility and its $470 million Term Loan C credit facility (collectively, the "Term Loans").

Key Points: 
  • HOUSTON, April 24, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today announced the launch of an anticipated repricing (the "Repricing") of its existing $863 million Term Loan B credit facility and its $470 million Term Loan C credit facility (collectively, the "Term Loans").
  • The Repricing is intended to reduce the interest rate on the Term Loans, and in connection therewith Talen will seek certain waivers and amendments to the terms of its credit facilities.
  • Talen will host a lender call related to the Repricing on April 24, 2024, and has provided certain additional disclosure on its OTC webpage available here .
  • There can be no assurance that the Repricing will occur, or, if it does, as to the terms of the Repricing.

CPS Energy Acquires Gas Plants in Corpus Christi and Laredo From Talen Energy as Part of Approved Generation Plan

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水曜日, 3月 27, 2024
Talen, Solar energy, CPS, Growth, Trustee, Talen Energy, SAN, City, CPS Energy, LLP, Acquisition, Wind, Carbon, Climate change mitigation, Plant, Investment, ERCOT, Retirement, Kirkland & Ellis, RBC Capital Markets, Renewable energy

SAN ANTONIO, March 27, 2024 /PRNewswire/ -- Today, CPS Energy and Talen Energy Corporation ("Talen") (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen's approximately 1,710-megawatt ("MW") generation portfolio located in the South Zone of the Electric Reliability Council of Texas ("ERCOT") market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.  

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo.
  • This action supports CPS Energy's generation plan, approved in 2023 by its Board of Trustees.
  • CPS Energy's Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030.
  • CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works.

CPS ENERGY ACQUIRES GAS PLANTS IN CORPUS CHRISTI AND LAREDO FROM TALEN ENERGY AS PART OF APPROVED GENERATION PLAN

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水曜日, 3月 27, 2024
Talen, Solar energy, CPS, Growth, Trustee, Talen Energy, SAN, City, CPS Energy, LLP, Acquisition, Wind, Carbon, Climate change mitigation, Plant, Investment, ERCOT, Retirement, Kirkland & Ellis, RBC Capital Markets, Renewable energy

SAN ANTONIO, March 27, 2024 /PRNewswire/ -- Today, CPS Energy and Talen Energy Corporation ("Talen") (OTCQX: TLNE) announced an agreement for CPS Energy to acquire Talen's approximately 1,710-megawatt ("MW") generation portfolio located in the South Zone of the Electric Reliability Council of Texas ("ERCOT") market for $785 million subject to customary net working capital adjustments at closing. These assets include natural gas plants in Corpus Christi and Laredo. The transaction is expected to close in the second quarter of 2024.  

Key Points: 
  • These assets include natural gas plants in Corpus Christi and Laredo.
  • This action supports CPS Energy's generation plan, approved in 2023 by its Board of Trustees.
  • CPS Energy's Vision 2027 plan includes its generation plan that contemplates the retirement of 2,249 MW of older and inefficient dispatchable generation capacity before 2030.
  • CPS Energy has added 730 MW of solar energy and 50 MW of energy storage to date as part of its generation plan, with an additional 500 MW energy storage RFP in the works.

Talen Energy Announces Sale of Zero-Carbon Data Center Campus

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月曜日, 3月 4, 2024
Finance, EST, Talen, Sale, Talen Energy, Webcast, Cumulus cloud

HOUSTON, March 4, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today issued the following statement regarding the sale of its 960-megawatt Cumulus data center campus in northeast Pennsylvania to a major cloud service provider.

Key Points: 
  • HOUSTON, March 4, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) today issued the following statement regarding the sale of its 960-megawatt Cumulus data center campus in northeast Pennsylvania to a major cloud service provider.
  • "We are pleased today to have sold our Cumulus data center campus, unlocking significant value for Talen," said Talen President and Chief Executive Officer Mac McFarland.
  • Details regarding the transaction can be found on the Financials and Presentations page of Talen's Investor Relations website, linked here .
  • Talen will host an investor call at 9:00 a.m. EST today, Monday, March 4, 2024.

Talen Energy to Report Full Year and Fourth Quarter 2023 Financial Results on March 14, 2024

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火曜日, 2月 27, 2024
EDT, CDT, Talen Energy, Webcast

HOUSTON, Feb. 27, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) plans to report its full year and fourth quarter 2023 financial results on Thursday, March 14, 2024.

Key Points: 
  • HOUSTON, Feb. 27, 2024 /PRNewswire/ -- Talen Energy Corporation ("Talen") (OTCQX: TLNE) plans to report its full year and fourth quarter 2023 financial results on Thursday, March 14, 2024.
  • President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call to be webcast and teleconferenced at 3:00 p.m. EDT (2:00 p.m. CDT).
  • To participate in the earnings call, please register for the webcast here .
  • Participants can also join by phone through registering here prior to the start time of the call to receive a conference call dial-in number.