Skip to main content
No. of Recommendations: 2
It looks like Talen Energy and its PE firm have a covenant issue on their hands which is not surprising but were able to refinance and improve liquidity...

The price of the bond about to mature (Dec 15) sank to something like 80c on the $1 several months ago but is trading about 2-3% off par now that earnings were published and new LoC was announced. So it appears that there is still a bit of concern that the deal may fall through but I think it's pretty unlikely. The redemption of what's yet outstanding on this issue is about $115 million.

Fitch did put Talen's debt on neg. watch:
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.