04:52 PM EST, 12/13/2024 (MT Newswires) -- Talen Energy ( TLN ) said late Friday it has closed its upsized $850 million incremental Term Loan B financing and the repurchase of its common shares with a proportional value from affiliates of Rubric Capital Management.

The company said it repurchased $1 billion of its shares using proceeds from the term loan facility and $150 million of cash on hand.

Talen Chief Executive Mac McFarland said the company repurchased more than 20% of its outstanding common stock in the past year.

The company's current repurchase program has remaining authorization of about $1.08 billion of shares and runs until 2026, it said.