Cumulus nuclear data center project unaffected by 'restructuring' May 11, 2022 By Dan Swinhoe
Talen Energy, which is developing a data center campus at one of its nuclear power stations, has seen one of its subsidiaries file for bankruptcy.
This week Talen Energy Supply (TES), a unit of Talen Energy Corp (TEC) that holds several of its power plants, filed for Chapter 11 protection....................
The company is aiming to reduce its $4.5 billion debt pile and bring in $1.65 billion in new equity from bondholders. TES has secured $1.76 billion of debtor-in-possession financing (the "DIP Facilities") led by Citigroup, Goldman Sachs, and RBC Capital Markets. The DIP Facilities are comprised of a $1 billion term loan, a $300 million revolving credit facility, and a $458 million letter of credit facility. The $1 billion term loan is being provided by an investor group of leading financial institutions.
The company said the process would "advance carbon-free data center growth initiatives, and maximize value to stakeholders." https://www.datacenterdynamics.com/en/news/talen-energy-subsidiary-files-for-bankruptcy-company-still-plans-nuclear-data-center/
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