| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers T > Headlines for Talen Energy Supply LLC > News item |
Talen tenders for $900 million of 4 5/8% notes, 6½% notes, 4.6% notes
New York, March 30 – Talen Energy Supply, LLC began tender offers for up to $900 million principal amount of three series of its bonds.
Talen is offering to buy its $1,107,500,000 of 4 5/8% senior notes due 2019, its $400 million of 6½% senior notes due 2018 and its $703,415,000 of 4.6% senior notes due 2021, according to a news release.
The 4 5/8% notes have first priority, the 6½% notes second priority and the 4.6% notes third priority.
In addition, the amount of 4.6% notes that will be bought in the offer is capped at $100 million.
Talen is offering $1,030.00 per $1,000 principal amount for the 4 5/8% notes, $1,051.25 per $1,000 principal amount for the 6½% notes and $870.00 per $1,000 principal amount for the 4.6% notes.
All the prices include an early tender payment of $30.00 per $1,000 principal amount that will only be paid to holders who participate by the early tender deadline of 5 p.m. ET on April 12.
The tender ends at 11:59 p.m. ET on April 27.
Notes will be accepted for purchase in order of priority up to the relevant caps and notes tendered by the early deadline will take precedence over those tendered subsequently.
Funding for the tender will come from offerings of debt securities, cash on hand and credit facility borrowings.
The tenders have conditions including a financing condition.
Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) and Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2476) are lead dealer managers. BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Goldman Sachs & Co, MUFG, RBC Capital Markets, Riverstone Capital Services and UBS Securities LLC are co-dealer managers.
D.F. King & Co., Inc. (888 414-5566, 212 269-5550 or talen@dfking.com) is tender agent.
Talen Energy is an Allentown, Pa., competitive energy and power generation company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.