DPL buys back $52.4 million of 8.125% trust capital securities

By Jennifer Chiou

New York, Dec. 30 - DPL Inc. announced the repurchase of $52.4 million principal amount of 8.125% DPL Capital Trust II capital securities due Sept. 1, 2031 in a privately negotiated transaction.

As part of this transaction, DPL paid a $3.7 million, or 7%, premium, which will be expensed in the fourth quarter of 2009.

Beginning in 2010, this transaction will result in annual interest cost savings of $4.2 million, according to a news release.

There is now $142.6 million of capital securities outstanding.

Based in Dayton, Ohio, DPL is a regional energy company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.