Power producer Talen Energy Corp. is seeking $1 billion or more in bankruptcy financing as some of its secured debt holders are preparing to sign confidentiality agreements this week to advance restructuring talks, according to people with knowledge of the situation.
The Riverstone Holdings-backed company has been in talks with revolver lenders led by Citigroup Inc. to help fund its operations during a potential bankruptcy, said the people, who asked not to be identified because the talks are private. Talen has also been courting new investors for the so-called debtor-in-possession financing, the people said.
Representatives at Talen and ...
