Talen Energy Supply, LLC Announces Early Tender Results

2017-11-28 09:19:31

(MENAFNEditorial) THE WOODLANDS, Texas, Nov. 28, 2017 /PRNewswire/ --Talen Energy Supply, LLC (the "Company" or "Talen Energy Supply") today announced the early tender results for its previously announced tender offer (the "Tender Offer") to purchase for cash any and all of its 6.500% Senior Notes due 2018 (the "Securities"). The Tender Offer was made pursuant to the terms and conditions set forth in the offer to purchase, dated November 14, 2017 (the "Offer to Purchase").

As of the previously announced early tender date and time of 5:00 p.m., New York City time, on November 28, 2017 (the "Early Tender Date"), according to information provided by Global Bondholder Services Corporation, the tender agent for the Tender Offer, a total of $312,286,000 aggregate principal amount of the Securities had been validly tendered and not validly withdrawn in the Tender Offer. Withdrawal rights for the Securities expired at 5:00 p.m., New York City time, on November 28, 2017. The table below sets forth the aggregate principal amount of the Securities that were validly tendered and not validly withdrawn by the Early Tender Date that will be accepted for purchase by the Company.

Title of Security

CUSIP/ISIN Number

Principal Amount Outstanding

Total Consideration(1)(2)

Principal Amount Tendered at Early Tender Date

Principal Amount Accepted at Early Tender Date

6.500% Senior Notes
due 2018

CUSIP No. 69352J AL1;
ISIN No. US69352JAL17

$400,000,000

$1,019.30

$312,286,000

(1) Per $1,000 principal amount of Securities validly tendered and accepted for purchase

(2) Includes Early Tender Payment

The "Total Consideration" for the Securities validly tendered and accepted for purchase pursuant to the Tender Offer is the amount shown in the table above. Holders of the Securities validly tendered and not validly withdrawn at or prior to the Early Tender Date are eligible to receive the Total Consideration for any such Securities accepted for purchase. Holders will also receive accrued and unpaid interest on the Securities validly tendered and accepted for purchase from the applicable last interest payment date up to, but not including, the date the Company makes payment for such Securities, which date is anticipated to be November 29, 2017.

The Tender Offer will expire at 11:59 p.m., New York City time, on December 12, 2017, unless extended or earlier terminated.

Information Relating to the Tender Offer

Citigroup Global Markets Inc. ("Citi"), Morgan Stanley & Co. LLC ("Morgan Stanley") and Deutsche Bank Securities Inc. ("DB") are the Joint Lead Dealer Managers for the Tender Offer. Investors with questions regarding the Tender Offer may contact Morgan Stanley at (212) 761-1057 (collect) or (800) 624-1808 (U.S. toll free) or Citi at (212) 723-6106 (New York) or (800) 558-3745 (U.S. toll free) or DB at (212) 250-7527 (collect) or (855) 287-1922 (U.S. toll free). Global Bondholder Services Corporation is the tender agent for the Tender Offer. Copies of the Offer to Purchase and any related offer documents may be obtained by contacting Global Bondholder Services Corporation at (866) 794-2200 (toll-free) or email .

None of the Company, its sole member, their indirect parent company, or their respective affiliates, boards of directors, shareholders and members, the dealer managers, the tender agent or the trustee with respect to the Securities is making any recommendation as to whether holders should tender their Securities in response to the Tender Offer. Holders must make their own decision as to whether to tender their Securities, and, if so, the principal amount of Securities to tender.

This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, the Securities and the Tender Offer does not constitute an offer to buy or the solicitation of an offer to sell the Securities in any jurisdiction or in any circumstances in which such offers or solicitations are unlawful. The full details of the Tender Offer, including complete instructions on how to tender Securities, are included in the Offer to Purchase. Holders are strongly encouraged to read carefully the Offer to Purchase and any related offer documents, including materials incorporated by reference therein, because they will contain important information.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to, the Company's ability to complete the Tender Offer and thereby reduce its outstanding indebtedness. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

About Talen Energy Supply

Talen Energy Supply is one of the largest competitive energy and power generation companies in North America. The Company owns or controls 16,000 megawatts of generating capacity in well-developed, structured wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. For more information, visit .

Investor Contact

Russell Clelland
Treasurer
610-601-0130

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