White & Case advises on Talen Energy Supply’s US$1.2 billion notes consent solicitation

Global law firm White & Case LLP has advised Talen Energy Supply, LLC on a consent solicitation with respect to the adoption of certain proposed amendments to the indenture governing its US$1.2 billion aggregate principal amount of 8.625% senior secured notes due 2030.

The amendments modified certain provisions in the indenture in order to substantially conform to the corresponding provisions set forth in Talen's credit agreement, and waived Talen's right to optionally redeem up to 10 percent of the notes at a price of 103 percent prior to June 1, 2025.

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 Tax partner David Dreier, and included Capital Markets counsel Abigail Simon, and associate William Quish (all in New York); and Tax associate Thor Fielland (Houston). Law clerk Ryan Sharpstene also assisted on the matter.

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