Talen Energy Supply, LLC announced on April 7, 2017 that it has priced a new $500 million secured Term Loan B facility and repriced its existing $600 million Term Loan B facility. The new $500 million secured Term Loan B facility priced at L+400 and the price on the existing Term Loan B facility was reduced 100 basis points from L+500 to L+400. Talen Energy expects to use the proceeds of the new $500 million Term Loan B facility, together with the proceeds from a new senior guaranteed notes offering, to refinance, repurchase and/or repay certain of Talen Energy's existing indebtedness, and to pay transaction fees and expenses.

The lead arrangers for the new Term Loan B facility are Morgan Stanley, Goldman Sachs, Deutsche Bank Securities, MUFG, Credit Suisse and RBC Capital Markets.

The closings of the new term loan and the repricing transaction are subject to finalization of definitive documentation and satisfaction of customary closing conditions.

About Talen Energy Supply

Talen Energy is one of the largest competitive energy and power generation companies in North America. Talen Energy produces and sells electricity, capacity and ancillary services from its fleet of power plants totaling approximately 16,000 MW (summer rating) of generating capacity as of December 31, 2016. Talen Energy's portfolio of generation assets is principally located in the Northeast, Mid-Atlantic and Southwest regions of the United States. Talen Energy is an indirect wholly owned subsidiary of Talen Energy Corporation.