Dynegy Completes Registered Exchange Offers for $5.1 Billion in Senior Notes

HOUSTON--()--Dynegy Inc. (NYSE:DYN) has completed registered exchange offers (the Exchange Offers) of:

  • $2,100,000,000 in aggregate principal amount of its 6.75% Senior Notes due 2019 (the 2019 Exchange Notes), registered under the Securities Act of 1933, as amended (the Securities Act), for all of its outstanding unregistered 6.75% Senior Notes due 2019 (the 2019 Notes);
  • $1,750,000,000 in aggregate principal amount of its 7.375% Senior Notes due 2022 (the 2022 Exchange Notes), registered under the Securities Act, for all of its outstanding unregistered 7.375% Senior Notes due 2022 (the 2022 Notes); and
  • $1,250,000,000 in aggregate principal amount of its 7.625% Senior Notes due 2024 (the 2024 Exchange Notes and, together with the 2019 Exchange Notes and the 2022 Exchange Notes, the Exchange Notes), registered under the Securities Act, for any and all of its outstanding unregistered 7.625% Senior Notes due 2024 (the 2024 Notes and, together with the 2019 Notes and the 2022 Notes, the Notes).

The Exchange Offers expired at 5:00 p.m. ET on August 17, 2015. The Notes were issued in a private offering in October 2014 pursuant to Rule 144A and Regulation S under the Securities Act. The Exchange Offers were conducted in order to satisfy certain obligations of Dynegy pursuant to a registration rights agreement entered into in connection with the private offering. The terms of the Exchange Notes are identical in all material respects to the terms of the Notes, except that the Exchange Notes have been registered under the Securities Act. Dynegy received no proceeds from these Exchange Offers.

About Dynegy

Dynegy is committed to leadership in the electricity sector. With nearly 26,000 megawatts of power generation capacity and two retail electricity companies, Dynegy is capable of supplying 21 million homes with safe, reliable and economic energy. Homefield Energy and Dynegy Energy Services are retail electricity providers serving businesses and residents in Illinois, Ohio and Pennsylvania.

Forward-Looking Statements

Certain statements included in this news release are intended as “forward-looking statements,” particularly those statements concerning the Exchange Offers. These statements include assumptions, expectations, projections, intentions or beliefs about future events. Discussion of risks and uncertainties that could cause actual results to differ materially from current projections, forecasts, estimates and expectations of Dynegy is contained in Dynegy’s filings with the Securities and Exchange Commission (the “SEC”). Specifically, Dynegy makes reference to, and incorporates herein by reference, the section entitled “Risk Factors” in its 2014 Form 10-K and subsequent 10-Qs, which are available free of charge on the SEC’s website at http://www.sec.gov.

Contacts

Dynegy Inc.
Media: Micah Hirschfield, 713.767.5800
or
Analysts: Rodney McMahan, 713.507.6466

Contacts

Dynegy Inc.
Media: Micah Hirschfield, 713.767.5800
or
Analysts: Rodney McMahan, 713.507.6466