HOUSTON, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Talen Energy Corporation ("TEC," "we" or "our") (NASDAQ:TLN) announced today that Talen Energy Supply, LLC ("TES" or the "Company"), a direct wholly owned subsidiary of TEC, has (a) launched a $1.2 billion incremental Term Loan B financing (the "Term Financing"), (b) received commitments to upsize its existing $700 million revolving credit facility by $200 million to $900 million, (c) received commitments to upsize its existing $900 million stand-alone letter of credit facility (the "Stand-Alone L/C Facility") by $200 million to $1.1 billion and (d) agreed to extend the maturity of the Stand-Alone L/C Facility from December 2026 to December 2027.

The Company intends to use the net proceeds of the Term Financing, together with net proceeds from new unsecured indebtedness, to fund the previously announced acquisitions (each an "Acquisition" and collectively, the "Acquisitions") of (i) the Freedom Energy Center, a 1,045 MW natural gas fired combined cycle generation plant located in Luzerne County, Pennsylvania (the "Freedom Acquisition") and (ii) the Guernsey Power Station, a 1,836 MW natural gas fired combined cycle generation plant located in Guernsey County, Ohio (the "Guernsey Acquisition"). Each Acquisition is being made pursuant to a purchase and sale agreement (each a "Purchase Agreement" and collectively, the "Purchase Agreements") each dated July 17, 2025, among Talen Generation, LLC, an indirect wholly owned subsidiary of TEC, and affiliates of Caithness Energy, L.L.C.

To the extent the Acquisitions do not close concurrently, the ...