Dynegy to partially repay term loan via proceeds of notes, Elwood sale

By Wendy Van Sickle

Columbus, Ohio, Oct. 5 – Dynegy Inc. plans to repay a portion of its term loan borrowings and pay related expenses with some proceeds of a $500 million offering of senior notes due 2025, proceeds from the sale of Elwood Energy LLC and related entities and cash-on-hand, according to a press release.

Dynegy said it will also use the funding sources to pay the buyout price owed to Energy Capital Partners III, LLC in connection with Dynegy’s buyout of Energy Capital’s interest in the joint venture created to consummate the previously announced acquisition of ownership interests in North American power generation assets from International Power, SA.

Dynegy is a Houston-based energy company.

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