Talen Energy Supply LLC upsized its previously announced private offering by $125 million to $225 million of 10.5% senior unsecured guaranteed notes due Jan. 15, 2026, according to a Nov. 20 release.
The notes will be issued at 97.5% of par value. Talen Energy Supply previously offered $400 million of 10.5% notes at 96.029% of par value on Nov. 14.
The company will use the sale proceeds, together with cash on hand, to refinance, repurchase and/or repay certain of its existing debts, including the tender offer for its 4.625% senior notes due 2019.
Subject to customary closing conditions, the offering will close on Dec. 5.
