09/22/2021, 6:21 PM
- Groups of creditors prepare to work with the strained Texan utility company
- Talen has $ 4 billion in debt with $ 114 million due in December
Lenders who bought the financially troubled Talen Energy Corp. provided a $ 690 million line of credit, hired RPA consultants to help negotiate the debt, according to people familiar with the matter.
The banks are among several groups of creditors formed to protect their interests, while Talen examines ways to reduce its debt burden of around $ 4 billion and move to renewable energy. The banking group is already working with law firm Davis Polk & Hardwell, Bloomberg News reported earlier this month.
After internal discussions, the groups of creditors are preparing to contact Talen’s advisors for talks soon, people said, …
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