Dynegy has secured a senior credit facility worth $1.7 billion. The new loan comprises a $1.1 billion five-year senior secured term facility, available to Dynegy Power and a $600 million five-year senior secured term facility, available to Dynegy Midwest Generation.
The electric energy, capacity and ancillary services seller will use the proceeds from the loan to repay its outstanding debt and for general working capital requirements. The joint lead arrangers for the loan were Credit Suisse and Goldman Sachs, while Barclays Capital acted as co-manager for the new facilities.
Click here for the release from Dynegy.