Talen Energy Supply LLC on Oct. 5 released final results of a previously announced tender offer to purchase any and all outstanding 4.6% unguaranteed notes due 2021 for up to $605.4 million of 7% guaranteed senior notes due 2027.
As of 5 p.m. ET on Oct. 5, about $29.4 million, or 4.85%, of the 2021 notes were validly tendered and not validly withdrawn. The offer is expected to settle Oct. 11.
The company expects to accept all the existing notes validly tendered and not validly withdrawn at or prior to the expiration date and expects to issue a like amount of new 2027 guaranteed notes in exchange for the accepted notes.
Holders who validly tendered and did not validly withdraw their existing notes on or prior to the expiration date will be paid a total consideration of $1,000 amount of new 2027 notes for each $1,000 principal amount of the existing notes accepted for exchange plus accrued and unpaid interest.