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Dynegy (DYN) Prices $750M Senior Notes in Public Offering
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Dynegy Inc. (DYN - Free Report) announced the public offering of $750 million aggregate principal amount of senior notes. The notes carry an interest rate of 8.0% and are slated for maturity in 2025. The aggregate principal amount was increased from $500 million due to robust market interest. Moody's Investors Service, a leading credit rating agency, has assigned a B2 corporate family rating to the company.
Details of the Offering
The issuer of the notes plans to use the proceeds from the proposed offering, together with cash-on-hand and the proceeds from the sale of allied entities and Elwood Energy LLC to make a payment for the buyout price owed to Energy Capital Partners III, LLC (ECP) in link with the company’s buyout of ECP’s interest in the joint venture formed to carry out the acquisition of North American power generation assets from International Power, S.A.,
The remaining proceeds will be used to repay all amounts outstanding under the revolving credit facility and to pay general corporate purposes.
On Sep 22, Chesapeake Energy Corporation (CHK - Free Report) announced the pricing of an underwritten public offering of 835,207 shares of its common stock. The offering was priced at $62.26 per share.
Chesapeake plans to utilize net proceeds from the equity offering to pay down a portion of the company's short-term revolving debt, which has risen as a result of capital investments to support growth.
On Sep 12, Alliant Energy Corporation’s (LNT - Free Report) unit, Interstate Power and Light Company (“IPL”) announced that it has priced the public offering of $300 million senior debentures. These debentures have an interest rate of 3.7% and will be due on Sep 15, 2046.
IPL plans to utilize net proceeds of nearly $295.3 million, before expenses, to lower outstanding capital under its receivables purchase and sale program, reduce commercial paper classified as long-term debt, and/or for general corporate purposes.
On Sep 7, SM Energy Company (SM - Free Report) declared the pricing of $500 million aggregate principal amount of senior unsecured notes. The notes are scheduled to mature by 2026 and carry an interest rate of 6.75%.
The proceeds from the offering will be utilized by the company to make partial payment for the purchase of an entity that holds undeveloped leasehold interests, producing wells and related infrastructure properties in the Midland Basin of west Texas. The remainder, if any, will likely be used for general corporate activities.
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Dynegy (DYN) Prices $750M Senior Notes in Public Offering
Dynegy Inc. (DYN - Free Report) announced the public offering of $750 million aggregate principal amount of senior notes. The notes carry an interest rate of 8.0% and are slated for maturity in 2025. The aggregate principal amount was increased from $500 million due to robust market interest. Moody's Investors Service, a leading credit rating agency, has assigned a B2 corporate family rating to the company.
Details of the Offering
The issuer of the notes plans to use the proceeds from the proposed offering, together with cash-on-hand and the proceeds from the sale of allied entities and Elwood Energy LLC to make a payment for the buyout price owed to Energy Capital Partners III, LLC (ECP) in link with the company’s buyout of ECP’s interest in the joint venture formed to carry out the acquisition of North American power generation assets from International Power, S.A.,
The remaining proceeds will be used to repay all amounts outstanding under the revolving credit facility and to pay general corporate purposes.
DYNEGY INC-NEW Price
DYNEGY INC-NEW Price | DYNEGY INC-NEW Quote
Public Offering by Others
On Sep 22, Chesapeake Energy Corporation (CHK - Free Report) announced the pricing of an underwritten public offering of 835,207 shares of its common stock. The offering was priced at $62.26 per share.
Chesapeake plans to utilize net proceeds from the equity offering to pay down a portion of the company's short-term revolving debt, which has risen as a result of capital investments to support growth.
On Sep 12, Alliant Energy Corporation’s (LNT - Free Report) unit, Interstate Power and Light Company (“IPL”) announced that it has priced the public offering of $300 million senior debentures. These debentures have an interest rate of 3.7% and will be due on Sep 15, 2046.
IPL plans to utilize net proceeds of nearly $295.3 million, before expenses, to lower outstanding capital under its receivables purchase and sale program, reduce commercial paper classified as long-term debt, and/or for general corporate purposes.
On Sep 7, SM Energy Company (SM - Free Report) declared the pricing of $500 million aggregate principal amount of senior unsecured notes. The notes are scheduled to mature by 2026 and carry an interest rate of 6.75%.
The proceeds from the offering will be utilized by the company to make partial payment for the purchase of an entity that holds undeveloped leasehold interests, producing wells and related infrastructure properties in the Midland Basin of west Texas. The remainder, if any, will likely be used for general corporate activities.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>