Talen Energy prices $4B in senior notes to fund 2,451 MW acquisition and redeem existing debt

Talen Energy Corp

$1.5B 6.125% senior notes due 2031 and $2.5B 6.375% senior notes due 2033 priced.
Net proceeds to fund acquisition of Lawrenceburg (1,120 MW), Waterford (875 MW), Darby (456 MW) plants.
Proceeds also redeem outstanding 8.625% Senior Secured Notes due 2030.
Closing expected April 29, 2026; special mandatory redemption if acquisition fails by Jan 15, 2027.
Notes offered in private placement to QIBs and accredited investors; not registered.

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