March 14, 2014
Dynegy Inc. (NYSE:DYN) has commenced an exchange offer (the Exchange Offer) of $500 million aggregate principal amount of its 5.875% Senior Notes due 2023 registered under the Securities Act of 1933 (the Exchange Notes) for all $500 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2023 (the Notes). The Notes were issued in a private offering in May 2013 pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The Exchange Offer was commenced 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 of 1933. Dynegy will receive no proceeds from this Exchange Offer.
The terms of the Exchange Offer are set forth in the prospectus dated March 14, 2014 (the Prospectus) and the accompanying letter of transmittal. The Exchange Offer will expire at 5:00 p.m., New York City time, on April 14, 2014, unless extended. Holders of the Notes may obtain copies of the prospectus and letter of transmittal from the exchange agent for the Exchange Offer: Wilmington Trust, National Association, 166 Mercer Street, Suite 2RE, New York, NY 10012, Attn: Boris Treyger, 212.941.4416 (telephone), 212.343.1079 (facsimile). This press release is for informational purposes only and shall not constitute an offer to exchange, nor a solicitation of an offer to exchange, any securities. The Exchange Offer is being made only pursuant to the Prospectus and the accompanying letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.
Dynegy's subsidiaries produce and sell electric energy, capacity and ancillary services in key U.S. markets. The Dynegy Power, LLC power generation portfolio consists of approximately 6,121 megawatts of primarily natural gas-fired intermediate and peaking power generation facilities. The Dynegy Midwest Generation, LLC portfolio consists of approximately 2,980 megawatts of primarily coal-fired baseload power plants. The Illinois Power Holdings, LLC portfolio consists of approximately 4,062 megawatts of primarily coal-fired baseload power plants. Homefield Energy is a retail electricity provider serving businesses and residents in Illinois.
Certain statements included in this news release are intended as 'forward-looking statements,' particularly those statements concerning the Exchange Offer. 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 most recent Form 10-K for the year ended December 31, 2013, which is available free of charge on the SEC's website at http://www.sec.gov.
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