Riverstone-Backed Talen Energy Taps Advisors Ahead of Debt Talks

Talen Energy Corp. is working with investment bank Evercore Inc. and legal counsel Weil, Gotshal & Manges as it prepares for negotiations with its creditors over how to tackle its debt load, according to people with knowledge of the matter.

The Riverstone Holdings-backed power company’s debt has slumped after the company released a downbeat earnings outlook earlier this month and failed to reduce investor concerns around its debt-reduction strategy and expansion into crypto mining.

The company and its board are reviewing various financing and liability management proposals for its roughly $4 billion debt load, management said on a recent investor ...