White & Case advises Talen Energy Supply on US$1.3 billion term loan transaction

Global law firm White & Case LLP has advised Talen Energy Supply ("Talen" or the "Company") in its successful repricing (the "Repricing") of its existing US$863 million Term Loan B credit facility and its US$470 million Term Loan C credit facility (collectively, the "Term Loans"). This transaction is expected to result in interest expense savings of approximately US$13 million annually.

In conjunction with the Repricing, White & Case assisted Talen in obtaining certain amendments increasing the Company's capacity for dispositions, restricted payments and investments under its credit agreement, along with a waiver for any mandatory prepayment of the Term Loans with proceeds from the previously announced sale of its approximately 1.7-gigawatt Texas generation portfolio, providing Talen with additional capital allocation flexibility.

Talen owns and operates approximately 10.7 gigawatts of power infrastructure in the United States and produces and sells electricity, capacity, and ancillary services into wholesale US power markets, including PJM and WECC, with their generation fleet principally located in the Mid-Atlantic and Montana.

The White & Case team was led by Capital Markets partner Andrew Weisberg and Debt Finance partners Yehuda Rubel and Justin Wagstaff, and included Debt Finance associates Ryan Talbott, Thomas Boulger (all in New York) and Alondra Urbina (Los Angeles).

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