Talen Energy Supply Initiates Consent Solicitation for Notes

Talen Energy Supply Launches Important Consent Solicitation

Talen Energy Corporation (NASDAQ: TLN) proudly announces its wholly owned subsidiary, Talen Energy Supply, LLC, is actively soliciting consents from each registered holder of its 8.625% Senior Secured Notes due 2030. This important move indicates the company's commitment to enhancing the stability and performance of its financial structure.

Proposed Amendments Overview

As part of the consent solicitation, Talen is seeking specific amendments to the indenture governing the notes. The intention behind these Proposed Amendments is twofold. Firstly, the company aims to modify certain provisions in the indenture to closely align them with the provisions outlined in Talen's credit agreement.

Secondly, Talen wishes to waive its right to optionally redeem up to 10.0% of the Notes before a particular date. This strategic move is designed to improve flexibility and liquidity, enhancing the company’s overall financial position.

Details on the Consent Solicitation Process

The consent solicitation officially commenced and is set to conclude soon, with key timelines outlined for participants. The company ensures that the Consent Solicitation Statement contains all necessary details, making it crucial for Note holders to review this documentation thoroughly.

Only those holders registered as of a specific record time are entitled to participate in the amendment voting. Upon execution of the proposed supplemental indenture—following the receipt of requisite consents—the company will distribute a cash payment to eligible holders, showcasing Talen's commitment to rewarding its investors.

Responsibilities of the Information and Solicitation Agents

Talen has engaged RBC Capital Markets, LLC, as the lead solicitation agent, alongside Citigroup Global Markets, to streamline and manage the consent solicitation process. These agents ensure that all inquiries regarding the process, including requests for documents, are addressed efficiently.

For assistance, holders can reach out to the Information Agent or the Lead Solicitation Agent provided below. It's essential for participants to remain engaged and informed as the solicitation progresses.

The Team Behind Talen Energy

Talen Energy (NASDAQ: TLN) stands as a key player in the energy sector, managing an impressive portfolio of power infrastructure across the United States. Their commitment to generating safe and reliable energy ensures they meet the evolving demands of the market, particularly as energy consumption continues to grow.

In addition to operating a diverse energy generation fleet, Talen is also strategically positioned to capitalize on the increasing demand for clean energy solutions, particularly as data centers expand and require reliable energy sources. This unique position allows Talen to not only maintain its current operations but also to invest in future growth opportunities.

Contact Information for Stakeholder Queries

For any inquiries related to the consent solicitation or to obtain copies of essential documents, stakeholders may contact:

RBC Capital Markets, LLC
Toll-Free: (877) 381-2099
Collect: (212) 618-7843
E-mail: liability.management@rbccm.com

D.F. King & Co., Inc.
Banks and Brokers call: (212) 269-5550 (collect)
All others call toll-free: (800) 769-4414
E-mail: TLNE@dfking.com

Frequently Asked Questions

What is the purpose of Talen Energy Supply's consent solicitation?

The consent solicitation is intended to seek approval for certain amendments to the indenture for the 8.625% Senior Secured Notes, aimed at improving the company's flexibility in financial dealings.

When did Talen Energy announce the consent solicitation?

Talen Energy announced the commencement of the consent solicitation process on January 6, 2025.

Who is eligible to provide consent for the Proposed Amendments?

Only holders of the Notes as of the specified record time are entitled to provide consent for the Proposed Amendments.

What compensation will holders receive for their consent?

If the Proposed Amendments are approved, holders who consent will receive a cash payment of $6.25 for every $1,000 principal amount of Notes they hold.

What is the role of RBC Capital Markets in this process?

RBC Capital Markets acts as the lead solicitation agent, facilitating the consent solicitation process and answering any related inquiries.

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