Predict your next investment

Talen Energy company logo
Corporation
ENERGY & UTILITIES | Electric / Transmission & Distribution
talenenergy.com

See what CB Insights has to offer

Founded Year

2015

Stage

Loan | Alive

Total Raised

$963M

Last Raised

$788M | 2 mos ago

About Talen Energy

Talen Energy is an independent power producer, generating and selling electricity, capacity and related products from a fleet of power plants that uses diverse fuel sources: carbon-free nuclear, clean and flexibly dispatched natural gas, efficient coal that is well-positioned to meet current and pending environmental regulations.

Talen Energy Headquarter Location

1780 Hughes Landing Suite 800

Spring, Texas, 77380,

United States

888-211-6011

Latest Talen Energy News

Talen Energy Supply Upsizes And Closes $848 Million First-Lien Financing; Transaction Provides Incremental Liquidity And Advances Energy Transition Strategy

Dec 15, 2021

Dec 15, 2021 5:30 PM EST Talen Energy Supply Upsizes And Closes $848 Million First-Lien Financing; Transaction Provides Incremental Liquidity And Advances Energy Transition Strategy THE WOODLANDS, Texas, Dec. 15, 2021 /PRNewswire/ -- Talen Energy Corporation ("TEC" or "Talen") today announced that its wholly-owned subsidiary Talen Energy Supply LLC ("TES") has upsized and closed on the previously announced first-lien revolving credit... Author: THE WOODLANDS, Texas, Dec. 15, 2021 /PRNewswire/ -- Talen Energy Corporation ("TEC" or "Talen") today announced that its wholly-owned subsidiary Talen Energy Supply LLC ("TES") has upsized and closed on the previously announced first-lien revolving credit facility commitment led by GoldenTree Asset Management LP and Silver Point Finance, LLC in the aggregate amount of $848 million. Concurrent with the closing, TES has expanded the facility to additional capital partners including Apollo Capital Management LP, Diameter Capital Partners LP, and Owl Creek Asset Management, LP, through their respective managed funds. Additionally, TES obtained the requisite approvals and waivers from its bank group led by Citi as administrative agent under its existing revolving credit facility to enter into this financing. This facility, which matures in September 2024, will primarily be used to fund elevated commodity working capital requirements during the winter period, repay $238 million of borrowings outstanding under TES' revolving credit facility, fund up to $200 million for working capital and other general corporate purposes and to pay transaction fees and expenses related to the new financing facility. "This financing will help unlock the value of our TES assets in this strong winter commodity environment while enabling Talen to continue executing our energy transition strategy," said TEC Chief Executive Officer Alex Hernandez. "We are grateful for the capital, support and confidence of GoldenTree, Silver Point, Apollo, Diameter, Owl Creek, and our bank group to execute and approve this facility. We also look forward to engaging with our other stakeholders as we work to execute our transformation, maximize enterprise value and drive the long-term success of the Talen platform and our people." "We are pleased to partner with Alex and his team to lead this important financing and advance the company's strategic objectives," said Paul Ardire, Principal at GoldenTree Asset Management. "Our firm's philosophy is to partner with experienced, differentiated management teams, which we have done with Talen over the last several years. We believe there is significant value in TES's asset base in this strong commodity environment, and longer-term as Talen executes its energy transition strategy to renewables and digital infrastructure." "Silver Point is pleased to work with Talen to provide a bespoke financing solution that addresses the company's near-term liquidity needs in the context of what we believe is a very strong fundamental operating environment," said Edward Mulé, Silver Point's CEO and Portfolio Manager. "Silver Point has significant experience and a longstanding history of partnering with companies and management teams that we believe in, with the goal of advancing their business objectives. We are particularly excited by the underlying value of Talen's generation portfolio and look forward to continuing to support the company as it plays a key role in the ongoing U.S. carbon-free energy transition." TES has retained White & Case LLP and Weil, Gotshal & Manges LLP as its legal advisors, and Evercore as its investment banker for this financing. Qualified investors and securities analysts can access additional information on the terms and conditions of this financing within the Supplemental Q3 2021 Investor Update, which is now available on the Investor Information section of Talen's website at:   https://talenenergy.investorroom.com/investor-information . Q3 2021 financials will be posted on this site on Thursday December 16 th. About GoldenTree Asset Management GoldenTree Asset Management is an employee owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, distressed debt, structured products, credit-themed equities and emerging markets. GoldenTree was founded in 2000 and is one of the largest independent asset managers focused on credit. GoldenTree manages over $46 billion for institutional investors including leading public and corporate pensions, endowments, foundations, insurance companies and sovereign wealth funds. For more information, please visit  www.goldentree.com Investor Contact Kathy Sutherland  GoldenTree Asset Management  212-847-3455  ksutherland@goldentree.com  Media Contact Steve Bruce and Mary Beth Grover  ASC Advisors  203-992-1230  sbruce@ascadvisors.com   mbgrover@ascadvisors.com   About Silver Point Finance Silver Point Finance, LLC, a subsidiary of global credit investor Silver Point Capital, L.P., is the Firm's dedicated customized financing solutions business. Founded in 2002, Silver Point was designed and built to have the deep resources, expertise and capital needed to invest in the global credit markets throughout credit cycles. Since inception in 2002, Silver Point has provided more than $14bn of capital solutions to over 300 companies. Today, the Firm manages approximately $19bn in investable assets across its credit strategies for institutional investors globally, including pensions, sovereign wealth funds, endowments, foundations, insurance companies, and family offices. Additional information is available at  www.silverpointfinance.com . Media Contact Todd Fogarty  Kekst CNC  212-521-4854  todd.fogarty@kekstcnc.com About Talen Energy Corporation Talen, through its subsidiary, TES, is one of the largest competitive power generation and infrastructure companies in North America. TES owns and/or controls approximately 13,000 megawatts of generating capacity in wholesale U.S. power markets, principally in the Mid-Atlantic, Texas and Montana. Through its subsidiary, Cumulus Growth, Talen is developing a large-scale portfolio of renewable energy, battery storage, and digital infrastructure assets across its expansive footprint. For more information, visit  https://www.talenenergy.com/esg-focused-future/ Investor Contact Olivia Sigo  Senior Director, Corporate Finance, Investor Relations & ESG  281-203-5387  InvestorRelations@talenenergy.com Media Contact Taryne Williams  Director Corporate Communications  610-601-0327  Taryne.Williams@talenenergy.com Cautionary Statement Regarding Forward-Looking Information This press release includes "forward-looking statements." All statements, other than statements of historical fact, included in this press release that address activities, events or developments that TES expects, believes or anticipates will or may occur in the future, as well as aspirational goals, are forward-looking statements. These statements are based on certain assumptions made by TES based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. TES undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after the issuance of this press release, except as required by law. View original content: https://www.prnewswire.com/news-releases/talen-energy-supply-upsizes-and-closes-848-million-first-lien-financing-transaction-provides-incremental-liquidity-and-advances-energy-transition-strategy-301445929.html

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing Talen Energy

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Talen Energy is included in 1 Expert Collection, including Grid and Utility.

G

Grid and Utility

298 items

This collection includes companies that are working on software and hardware to improve grids, utilizing new pricing models, and developing microgrids.

Talen Energy Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Talen Energy Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.