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Stock Market & Financial Investment News

News Breaks
August 22, 2014
07:01 EDTDYN, DUKDynegy 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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September 17, 2014
10:54 EDTDYNDynegy sees 2015 adjusted EBITDA $1.2B-$1.4B
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07:36 EDTDYN, DUKWolfe Research to hold a conference
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September 16, 2014
09:59 EDTDUKOn The Fly: Analyst Upgrade Summary
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05:33 EDTDUKDuke Energy upgraded to Outperform from Market Perform at Wells Fargo
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September 15, 2014
14:01 EDTDUKDuke Energy signs O&M agreement with Pattern Energy
Duke Energy Renewable Services announced it has signed a long-term agreement to service Pattern Energy Group Inc.'s 283-megawatt Gulf Wind energy project in Armstrong, Texas. Duke Energy Renewable Services will supply operations and maintenance services for three years, beginning in November, with an option for a two-year extension.
09:02 EDTDUKDuke Energy commits $500M to North Carolina solar power expansion
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September 9, 2014
08:47 EDTDUKDuke Energy management to meet with Deutsche Bank
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September 8, 2014
07:47 EDTDYNDynegy price target raised to $36 from $33 at UBS
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06:56 EDTDUKDuke Energy management to meet with Deutsche Bank
Meetings to be held in Charlotte/Birmingham/Orlando on September 8 hosted by Deutsche Bank.

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