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Talen Energy Agrees Recapitalization With $1.65B New Equity

May 10, 2022, 7:25 AM

Talen Energy Corporation announces a recapitalization transaction that is expected to “greatly strengthen” the financial position of its Talen Energy Supply LLC subsidiary, according to a statement.

  • $1.65 billion of equity capital provided by an ad hoc group of unsecured bondholders
  • $1.76 billion debtor-in-possession financing provided by a consortium of banks led by Citigroup, Goldman Sachs, and RBC Capital Markets and an investor group of leading financial institutions
  • $3.2 billion of debt eliminated through proposed recapitalization
  • NOTE: Talen Energy Files for Bankruptcy, Battling High Debt Load

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