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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:01 EDTDUK, DYNDynegy to acquire assets from Duke Energy and Energy Capital Partners
Dynegy (DYN) has signed two separate definitive sets of agreements to acquire the ownership interests in certain Midwest generation assets from Duke Energy (DUK) and EquiPower Resources Corp and Brayton Point Holdings, LLC from ECP. The Duke portfolio includes its retail business and ownership interests in the following plants: Killen, Stuart, Conesville, Miami Fort, Zimmer, Hanging Rock, Washington, Fayette, Lee and Dicks Creek. The ECP assets include these generating facilities: Milford, Lake Road, Dighton, Masspower, Liberty, Elwood, Richland, Stryker, Kincaid and Brayton Point. Upon closing both transactions, Dynegy will own nearly 26,000 megawatts of generating capacity nationally and provide retail electricity to residents and businesses in Illinois, Ohio, Pennsylvania and Michigan. Dynegy has committed financing in place for both the liquidity facilities and the transaction purchase prices and expects to access the capital markets in advance of closing to raise the permanent financing for the transactions. Dynegy Inc. intends to issue approximately $5 billion in new unsecured bonds and $1.25 billion in equity and equity-linked securities. Included in the equity figure is $200 million of Dynegy common stock that will be issued to ECP as part of the transaction consideration at closing. To support the collateral and liquidity needs of the combined enterprise, the Company has secured two incremental corporate-level revolving credit facilities totaling $950 million, bringing total revolver capacity at Dynegy Inc. to $1.425 billion. Additionally, approximately $300 million in working capital and cash collateral postings will be transferred to Dynegy with the acquired portfolios at closing. The purchase price is $2.8 billion for Duke assets and $3.45 billion for ECP assets. The transaction’s financing structure is consistent with the Company’s focus on balance sheet management, value-creating capital allocation, and sufficient liquidity to weather changes in commodity markets. The new assets will be incorporated into Dynegy’s existing first lien structure to support the Company’s hedging and collateral management programs.
News For DYN;DUK From The Last 14 Days
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December 19, 2014
10:01 EDTDUKDuke Energy acquires Halifax solar project in eastern North Carolina
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07:51 EDTDUKCarolina Business Review to hold a discussion on the economic outlook
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December 12, 2014
10:41 EDTDYNHigh option volume stocks:
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December 10, 2014
14:22 EDTDUKDuke Energy accelerating ash basin closure planning across fleet
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09:09 EDTDUKDuke Energy receives FERC approval for NCEPA assets purchase
Duke Energy has received approval from the Federal Energy Regulatory Commission to proceed with plans to purchase the North Carolina Eastern Municipal Power Agency's generating assets. The ruling is an important milestone of the approximately $1.2B transaction with NCEMPA, announced July 28. NCEMPA currently maintains partial ownership interest in several Duke Energy Progress plants.
07:45 EDTDUKWells Fargo to hold a symposium
2014 Wells Fargo Energy Symposium is being held in New York on December 9-10; with webcasted company presentations to begin on December 10 at 8 am; not all company presentations may be webcasted. Webcast Link
December 9, 2014
10:23 EDTDUKOn The Fly: Analyst Downgrade Summary
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08:00 EDTDUKDuke Energy downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Duke Energy to Neutral from Outperform, citing a lack of limited upside in the near term and the belief that a review of the company's international assets is unlikely to result in asset sales or cash transfers into the U.S. The firm, however, raised its price target on the stock to $84 from $79.
December 8, 2014
12:35 EDTDUKDuke Energy receives approval from NCUC to build three solar facilities
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