Talen Energy Corporation (NASDAQ: TLN) announced that its subsidiary Talen Energy Supply has completed refinancing transactions for its existing credit facilities. The company repriced its $846 million senior secured term loan B facility, reducing the interest rate margin to SOFR plus 175 basis points and extending maturity from May 2030 to November 2032.

The company also repriced its $839 million senior secured term loan B facility due December 2031, lowering the interest rate margin to SOFR plus 175 basis points. Combined with the recent redemption of outstanding 8.625% Senior Secured Notes due 2030, these transactions are expected to generate approximately $47 million in annual interest savings.

"We are committed to capital discipline and creating shareholder value," said 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."

Talen Energy operates approximately 13.1 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power. The company produces and sells electricity, capacity, and ancillary services into wholesale U.S. power markets, with generation facilities located primarily in the Mid-Atlantic, Ohio and Montana.

The information is based on a company press release statement.