Latest Company Intelligence

• UBS Asks ISDA To Rule On Potential Succession Event At Dynegy 
  The Wall Street Journal  | Sep 14,'11
  NEW YORK (Dow Jones)--UBS Ltd. has asked a special committee of the International Swaps and Derivatives Association to rule whether default insurance on Dynegy Holdings Inc. (DYN) debt has suffered a so-called "succession event." Succession events can affect credit default swap contracts if, for example, the borrowings of one company become the obligations of another under a corporate
• Dynegy Bondholder Losses Deepen as Debt Exchange Looms: Corporate Finance 
  Bloomberg.com  | Sep 8,'11
  's bondholders, who suffered a 17 percent loss since the beginning of the year, may face more punishment as the company heads toward purchasing its outstanding debt for less than face value. The power producer last week transferred $1.25 billion of assets, mainly coal-fired power facilities, out of a unit that issued bonds for the company, leaving fixed-income investors with fewer
• Carl Icahn Drinks Your Dynegy Milkshake 
  Deal Journal - The Wall Street Journal  | Sep 3,'11
  Carl Icahn put the hurt on Dynegy's bondholders again today with an inscrutably worded announcement that roughly translates into: “I drink your milk shake!” After splitting up its gas fired and coal-fired power plants into two bankruptcy remote entities in July, the holding company now is transferring the coal assets to the parent company, Dynegy Inc., in which Icahn owns a large
• Dynegy Takes Direct Ownership Of Dynegy Midwest's Indirect Parent 
  The Wall Street Journal  | Sep 2,'11
  Dynegy Inc. (DYN) continued its internal restructuring by acquiring direct ownership of Dynegy Coal Holdco LLC, the indirect parent of its Dynegy Midwest Generation LLC unit. The deeply indebted Houston power company closed on $1.7 billion of debt financing earlier this month for its power plant units, as part of a plan to reorganize the company and its finances. Dynegy recently
• RPT-UPDATE 1-Dynegy takes full ownership of coal holding co 
  Reuters Africa  | Sep 2,'11
  * Buys direct ownership of Coal Holdco * Equity stake in Coal Holdco has fair value of $1.25 billion, incl debt Sept 2 (Reuters) - Independent power producer Dynegy Inc said it has bought Dynegy Coal Holdco, the indirect parent of its coal-fueled unit -- a division it had recently formed as a part of its debt restructuring process. The value of Dynegy's equity stake in Coal Holdco is
• Delaware Decision on Restructurings 
  DealLawyers.com Blog  | Aug 22,'11
  Here's news from Potter Anderson's John Grossbauer : Recently, Delaware Vice Chancellor Parsons delivered this opinion - in Roseton OL, LLC v. Dynegy Holdings - declining to enjoin the restructuring of Dynegy Holdings on the grounds that it violated a transfer restriction in a parent company guarantee in a sale-leaseback transaction or, alternatively, constituted a fraudulent conveyance. ▪

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