HOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- Talen Energy Corporation ("TEC," "we" or "our") (NASDAQ:TLN) announced today that Talen Energy Supply, LLC ("TES" or the "Company"), a direct wholly owned subsidiary of TEC, has entered into several financing transactions (the "Transactions") designed to optimize the Company's debt structure and financing costs. The Transactions include: (i) repricing the Company's existing $846 million senior secured term loan B facility due May 2030 to reduce the current interest rate margin to SOFR plus 175 basis points and extending its maturity from May 2030 to November 2032 and (ii) repricing the Company's existing $839 million senior secured term loan B facility due December 2031 to reduce the current interest rate margin to SOFR plus 175 basis points. The Transactions, together with the Company's recent redemption of its outstanding 8.625% Senior Secured Notes due 2030, are expected to result in annual interest savings to Talen of approximately $47 million.

"We are committed to capital discipline and creating shareholder value," said Talen Chief Financial Officer Cole Muller. "The Transactions strengthen our line of sight to delivering more than $40 per share of annual free cash flow by 2028. Longer term, we are excited about our differentiated position and look forward to growing into significant contracted cash flows along with executing on additional growth opportunities."