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BRIEF-Dynegy reaches tentative agreement regarding Illinois Power generating notes restructuring
October 3, 2016 / 1:47 PM / a year ago

BRIEF-Dynegy reaches tentative agreement regarding Illinois Power generating notes restructuring

Oct 3 (Reuters) - Dynegy Inc

* $825 million in existing 2018, 2020 and 2032 Genco notes will be exchanged

* Dynegy reaches tentative agreement regarding Illinois Power generating notes restructuring

* Agreement in principle with illinois power generating co, ad hoc group of Genco bondholders to restructure $825 million in unsecured debt

* Genco to continue making interest payments on Genco notes, with payments netted against proposed cash consideration

* Notes to be exchanged for $210 million in new 7-year co's unsecured notes, $139 million cash consideration, 10 million Dynegy Inc. warrants

* Notes to be exchanged for 10 million Dynegy Inc. warrants with a 7-year tenor and strike price of $35 per share

* Co, Genco, ad HOC Group have agreed holders of Genco notes who enter into RSA on, before agreed date will be paid pro rata share of $9 million Source text for Eikon: Further company coverage:

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