Talen Energy Acquires Two Major Natural Gas Plants, Stock Rises
Talen Energy, a leading independent power producer, has seen its stock price rise by 0.44% to $412.83 in after-hours trading. The company is set to acquire two significant natural gas fired combined cycle generation plants: the 1,045 MW Freedom Energy Center in Luzerne County, Pennsylvania, and the 1,836 MW Guernsey Power Station in Guernsey County, Ohio.
Talen Energy is financing these acquisitions through a combination of debt and equity. The company's subsidiary, Talen Energy Supply, has priced $1.40 billion in 6.250% senior notes due 2034 and $1.29 billion in 6.500% senior notes due 2036 in private offerings. Additionally, Talen Energy has secured a new $1.2 billion senior secured term loan B credit facility. The net proceeds from these offerings and the loan will be used to fund the acquisitions of the Freedom Energy Center and Guernsey Power Station.
The financing for these acquisitions appears to involve multiple parties, as is common with large-scale credit facilities. Specific details about individual investors are not immediately available. For more information, it is recommended to consult Talen Energy's financial reports or press releases.
Talen Energy's expansion continues with the acquisition of two significant power plants. The company's stock price has responded positively to these developments, reflecting investors' confidence in Talen Energy's growth strategy.
