Talen Energy, Pa., remarkets $230.57 million of revenue refunding bonds

By Sheri Kasprzak

New York, Sept. 1 – Talen Energy Supply LLC of Pennsylvania remarketed $230.57 million of exempt facilities revenue refunding bonds it originally issued through the Pennsylvania Economic Development Financing Authority, according to a form 8-K filed Tuesday with the Securities and Exchange Commission.

The remarketing included $100 million of series 2009A bonds, $50 million of series 2009B bonds and $80.57 million of series 2009C bonds.

The bonds were subject to mandatory purchase on Sept. 1.

The 2009A bonds are due Dec. 1, 2038, have a 6.4% interest rate and may be redeemed at the authority’s option on Sept. 1, 2025.

The 2009B bonds are due Dec. 1, 2038, have a 5% fixed interest rate and are subject to mandatory purchase at a price equal to the par plus accrued and unpaid interest on Sept. 1, 2020.

The 2009C bonds are due Dec. 1, 2037, have a 5% interest rate and are also subject to a mandatory purchase price equal to par and interest on Sept. 1, 2020.

Proceeds from the initial offering were used to refund bonds issued to install pollution control facilities at certain electric generating stations operated by Talen.

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