Dynegy Inc. (NYSE:DYN) has commenced registered exchange offers (the Exchange Offers) of:

  • $2,100,000,000 in aggregate principal amount of its 6.75% Senior Notes due 2019 (the 2019 Exchange Notes), registered under the Securities Act of 1933, as amended (the Securities Act), for all of its outstanding unregistered 6.75% Senior Notes due 2019 (the 2019 Notes);
  • $1,750,000,000 in aggregate principal amount of its 7.375% Senior Notes due 2022 (the 2022 Exchange Notes), registered under the Securities Act, for all of its outstanding unregistered 7.375% Senior Notes due 2022 (the 2022 Notes); and
  • $1,250,000,000 in aggregate principal amount of its 7.625% Senior Notes due 2024 (the 2024 Exchange Notes and, together with the 2019 Exchange Notes and the 2022 Exchange Notes, the Exchange Notes), registered under the Securities Act, for any and all of its outstanding unregistered 7.625% Senior Notes due 2024 (the 2024 Notes and, together with the 2019 Notes and the 2022 Notes, the Notes).

The Notes were issued in private offerings in October 2014 pursuant to Rule 144A and Regulation S under the Securities Act. The Exchange Offers were commenced in order to satisfy certain obligations of Dynegy pursuant to a registration rights agreement entered into in connection with the private offering. The terms of the Exchange Notes are identical in all material respects to the terms of the Notes, except that the Exchange Notes have been registered under the Securities Act. Dynegy will receive no proceeds from the Exchange Offers.

The terms of the Exchange Offers are set forth in the prospectus dated July 17, 2015 (the Prospectus) and the accompanying letter of transmittal. Each Exchange Offer will expire at 5:00 p.m., New York City time, on August 17, 2015, unless extended by Dynegy. Holders of the Notes may obtain copies of the Prospectus and letter of transmittal from the exchange agent for the Exchange Offers: Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, DE 19890-1626, Attn: Workflow Management – 5th Floor, 302.636.6470 (telephone), 302.636.4139 (facsimile). This press release is for informational purposes only and shall not constitute an offer to exchange, or a solicitation of an offer to exchange, any securities. The Exchange Offers are being made only pursuant to the Prospectus and the accompanying letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

ABOUT DYNEGY

Dynegy is committed to leadership in the electricity sector. With nearly 26,000 megawatts of power generation capacity and two retail electricity companies, Dynegy is capable of supplying 21 million homes with safe, reliable and economic energy. Homefield Energy and Dynegy Energy Services are retail electricity providers serving businesses and residents in Illinois, Ohio and Pennsylvania.

FORWARD LOOKING STATEMENTS

Certain statements included in this news release are intended as “forward-looking statements,” particularly those statements concerning the Exchange Offers. These statements include assumptions, expectations, projections, intentions or beliefs about future events. Discussion of risks and uncertainties that could cause actual results to differ materially from current projections, forecasts, estimates and expectations of Dynegy is contained in Dynegy’s filings with the Securities and Exchange Commission (the “SEC”). Specifically, Dynegy makes reference to, and incorporates herein by reference, the section entitled “Risk Factors” in 2014 Form 10-Kand subsequent 10-Qs, which are available free of charge on the SEC’s website at http://www.sec.gov.