The company also said that its new CoalCo and GasCo subsidiaries have closed on new senior secured credit facilities in the aggregate amount of $1.7bn.
The new facilities consist of a $1.1bn, five-year senior secured term loan facility available to Dynegy Power (GasCo facility) and a $600m, five-year senior secured term loan facility available to Dynegy Midwest Generation (CoalCo facility).
Last month, Dynegy announced its plan to reorganize its operations to facilitate obtaining the new credit facilities, align its asset base and maximize its flexibility to address additional potential debt restructuring activities.
The company’s operations have now been reorganized into three segments: gas, coal and other.
Dynegy Power owns and operates the gas segment, while Dynegy Midwest Generation owns and operates the coal segment.
The gas segment includes a portfolio of eight primarily natural gas-fired intermediate (combined-cycle) and peaking (combustion and steam turbines) power generation facilities diversified across the West, Midwest and Northeast regions of the US, with a total capacity of 6,771MW.
The coal segment includes a portfolio of six primarily coal-fired baseload power generation facilities located in the Midwest, with a total capacity of 3,132MW.
Dynegy said its remaining assets including leasehold interests in the Danskammer and Roseton facilities constitute the third business segment.
