Dayton Power and Light to launch $445 million term loan B on Monday

By Sara Rosenberg

New York, Aug. 5 – Dayton Power and Light Co. is set to hold a lenders’ presentation at 2 p.m. ET on Monday to launch a $445 million senior secured term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance the company’s existing 1.875% first mortgage bonds due 2016.

Dayton Power is a Dayton, Ohio-based power company.

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