Talen Energy Supply, LLC Announces Final Tender Results
THE WOODLANDS, Texas , Nov. 29, 2018 /
PRNewswire / - Talen Energy Supply, LLC (the "
Company " or "
Talen Energy Supply ") today annoncé the final tender results for ict Previously annoncé tender offers (the "
Tender Offers " ) to purchase for cash up to an aggregate purchase price of $ 400,000,000 (the "
Aggregate Maximum Tender Amount ") of ict 4.600% Senior Notes due 2021 (the "
2021 Notes "), 9.500% Senior Notes due 2022 (the "
2022 Notes " ) and 6.500% Senior Guaranteed Notes due 2024 (the "
2024 Notes " and,together with the 2021 Notes and the 2022 Notes, the "
Securities "). The Tender Offers Were made pursuant to the terms and conditions set forth in the offer to purchase, dated October 30, 2018 , as Supplemented by Supplement No. 1 to the Offer to Purchase, dated November 5, 2018 (together, the "
Offer to Purchase ").
As of the Previously annoncé expiration date and time of 11:59 pm , New York City time, we November 28, 2018 (the "
Expiration Date "), selon information provided by Global Bondholder Services Corporation, the tender agent for the Tender Offers , a total of $ 427,704,000 main aggregate amount of the 2021 Notes, $ 135,485,000 main aggregate amount of the 2022 Notes, and $ 10,788,000 main aggregate amount of the 2024 Notes had been validly tendered and not validly withdrawn in the Tender Offers. Because the Tender Offers were fully subscribed as of 5:00 pm , New York City time, onNovember 13, 2018 (the "
Early Tender Date"), were not accepted as early as the date of receipt of the original notes, since the aggregate principal amount of the 2021 Notes validly tendered and not validly withdrawn beyond the Aggregate Maximum Tender Amount, the Company will not accept any 2022 Gold Notes 2024 Notes that have been tendered by the Rather, the Company will prorate the 2021 Notes to be used by the proration factor of approximately 98.615%. Tender Date (other than the 2021 Notes accepted for purchase), were returned to the holders as described in the Offer to Purchase.The table below sets forth the principal amounts of the securities that have been validly tendered and not validly withdrawn by the early date that will be accepted for purchase by the Company.
Title of Security
CUSIP / ISIN Number
Senior Amount Outstanding
Acceptance Priority Level
Total Consideration (1) (2)
Main
Tendered Amount at Early
Tender Date
Main Amount
Accepted at Early
Tender Date
4.600% Senior Notes due 2021
69352JAN7;
US69352JAN72
$ 576,001,000
1
$ 950.00
$ 427,704,000
$ 421,053,000
9.500% Senior Notes due 2022
87422VAB4
US87422VAB45
U8302WAA2,
USU8302WAA28
$ 400,000,000
2
$ 1,035.00
$ 135,485,000
(3)
6.500% Senior Guaranteed Notes due 2024
U8302WAB0
USU8302WAB01
87422VAC2
US87422VAC28
$ 98,056,000
3
$ 670.00
$ 10,788,000
(3)
(1) Per $ 1,000 principal amount of securities validly tendered and accepted for purchase
(2) Includes Early Tender Payment
(3) Securities from such series will be accepted by the Company.
The "
Total Consideration " for the 2021 Notes validly tendered and accepted for purchase to the Tender Offers is shown in the table above. Holders of the 2021 Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date Accepted for full acceptance 2021 Notes accepted for purchase. Holders will also receive and unpaid interest on the 2021 Notes validly tendered and accepted for the purpose of making the payment, which date is anticipated to be December 3, 2018 .