Talen Energy Supply Raises $3.89 Billion for Acquisitions, Stock Climbs
Talen Energy Supply, a subsidiary of Talen Energy, has raised a substantial amount in financing for its recent acquisitions. The company has priced offerings of $1.40 billion in senior notes due 2034 and $1.29 billion in senior notes due 2036. Additionally, a new $1.2 billion senior secured term loan B credit facility has been established. These funds will be used to acquire the Freedom Energy Center and the Guernsey Power Station.
The offerings, totaling $2.69 billion, were priced at 6.250% for the 2034 notes and 6.500% for the 2036 notes. The company also secured a $1.2 billion loan facility. Talen Energy's stock price has responded positively to this news, climbing 0.44% in after-hours trading to reach $412.83. Despite the significant financing, specific details about the banks involved and the financial backers for the acquisitions remain unmentioned.
Talen Energy Supply has successfully raised the required funds for its acquisitions, with the net proceeds from the offerings and the loan facility totaling $3.89 billion. The company's stock price has shown a positive reaction to this development, indicating investor confidence in the company's financial strategy.
