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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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June 30, 2015
10:01 EDTDUKOn The Fly: Analyst Initiation Summary
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09:13 EDTDUKDuke Energy, Samsung SDI and Younicos to update energy system
Duke Energy, Samsung SDI and Younicos will team up to update Duke Energy's 36-megawatt energy storage and power management system at the company's Notrees Windpower Project in west Texas. The system, one of the nation's largest, has been operating since 2012 with lead acid batteries. Over the course of 2016, these batteries will be gradually replaced with lithium-ion technology.
June 29, 2015
17:07 EDTDUKDuke Energy initiated with a Neutral at Mizuho
Target $75.
10:51 EDTDUKSupreme Court overrules EPA regulations on power plant pollution, The Hill says
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June 25, 2015
10:47 EDTDYNDynegy sees FY15 adjusted EBITDA $825M-$1.03B
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10:46 EDTDYNDynegy sees $120M in environmental spending yearly for 2019-2023
Sees $4M in environmental spending in 2016. Sees $19M in environmental spending in 2017. Sees $85M in environmental spending in 2018. Says capital spending to comply with major environmental rules expected to be manageable.Information from company slides presentation.
08:09 EDTDUKTerraForm acquires ownership stake of 9 MW of solar power plants
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08:01 EDTDYNDynegy to host investor Day
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June 23, 2015
08:06 EDTDUKDuke Energy recommends full excavation of an additional 12 coal ash basins
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June 22, 2015
19:56 EDTDUKUtilities sector dips after EPA warns of 'significant risks' from climate change
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June 19, 2015
08:29 EDTDUKDuke Energy completes stock repurchase program
Duke Energy announced completion of a $1.5B accelerated stock repurchase program, funded with proceeds from the sale of the company's Midwest Commercial Generation business.
June 18, 2015
07:50 EDTDUKFederal Energy Regulatory Commission to hold a meeting
FERC discusses various matters pertaining to Duke Energy, Consolidated Edison Company of New York, Portland General Electric, Entergy Corporation and Allete in an Open Commission Meeting being held at FERC's Washington, D.C. offices on June 18 at 10 am. Webcast Link

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