Dynegy Inc. Announces Public Offering of Tangible Equity Units

June 21, 2016

New York, NY- Paul Hastings LLP, a leading global law firm, represented the underwriters in connection with the $460 million public offering of tangible equity units by Dynegy Inc. (NYSE: DYN), a producer and distributer of electric energy, capacity and ancillary services in key U.S. markets.

The firm represented Morgan Stanley, RBC Capital Markets, Deutsche Bank Securities, Goldman, Sachs & Co., MUFG, BNP Paribas, Credit Agricole CIB and SunTrust Robinson Humphrey as joint book-running managers in connection with the public offering of 4,600,000 7.00% tangible equity units (including the full exercise by the underwriters of their over-allotment option to purchase an additional 600,000 tangible equity units).

It is anticipated that Dynegy will use the net proceeds from the tangible equity units offering, together with the borrowings under the company’s term loan B and revolving credit facilities, the proceeds of Energy Capital Partners’ purchase of $150 million of the company’s common stock to occur concurrently with the closing of the acquisition and cash-on-hand, to fund the consideration for the previously announced acquisition of ownership interests in certain North American power generation assets from International Power, S.A., an indirect subsidiary of ENGIE S.A., and to pay related fees and expenses.

The Paul Hastings team was led by partners Michael Chernick and Michael Zuppone, and included of counsel Lesley Janzen and associates Melissa Fishkin, Barrett Wilson-Murphy and Christopher Russo.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.