Talen Energy closes $850M Term Loan B to fund $1B stock buyback from Rubric

Talen Energy Corp

Borrowed $850M via incremental Term Loan B; maturity Dec 2031; interest based on Term SOFR plus margin.
Repurchased 4,893,507 shares from Rubric Capital at $204.35/share (4% discount to 15-day VWAP).
Total repurchase price $1B, funded by $850M loan + $150M cash; 45,961,910 shares remain outstanding.
CEO notes >20% of outstanding stock repurchased in past year; ~75% of market cap since May 2023 exit from bankruptcy.
Remaining share repurchase authority ~$1.08B through 2026.

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