Dynegy Announces First Quarter 2012 Results, Provides Restructuring Update

Thursday May 10th 2012 07:31:00 AM

First quarter 2012 summary: 27% increase in generation volumes compared to the same period in 2011 driven by a 128% increase in our Gas segment generation $24 million in enterprise Adjusted EBITDA, a decrease of $63 million compared to 2011 $(20) million in consolidated Cash Flow from Operations, which excludes the impact of cash flow from Dynegy Holdings, LLC (DH) and its consolidated subsidiaries due to the deconsolidation $983 million in liquidity at May 4, 2012, including $726 million in unrestricted cash Restructuring Developments: Settlement Agreement reached with significant creditor groups would eliminate over $4 billion of debt and lease obligations, leaving the rest...

Dynegy to Announce First Quarter 2012 Results on May 10

Tuesday May 1st 2012 08:48:00 AM

HOUSTON--(BUSINESS WIRE)--May. 1, 2012-- Dynegy Inc. (NYSE: DYN) announced that it plans to report first quarter 2012 financial results on Thursday, May 10, 2012. Dynegy President and Chief Executive Officer, Robert C. Flexon and members of the Company's senior management team will discuss results during an investor presentation to be webcast live beginning at 10 a.m. ET/9 a.m. CT on May 10. The listen-only webcast on May 10 can be accessed via the "Investor Relations" section of the Company's website at http://www.dynegy.com. For persons unable to listen to the live webcast, the call will be archived and available for replay on the Company's website for a one-year period. Dynegy's subsi...

Dynegy Notified by NYSE of Non-Compliance with a Continued Listing Standard

Wednesday April 11th 2012 04:45:41 PM

HOUSTON--(BUSINESS WIRE)--Apr. 11, 2012-- Dynegy Inc. (NYSE: DYN) today announced that on April 5, 2012, the Company was notified by the New York Stock Exchange (NYSE) that it was not in compliance with NYSE’s continued listing standard that requires that the average closing price of a listed company’s common stock not fall below $1.00 per share for any consecutive 30-trading-day period. Under NYSE rules, Dynegy has a period of six months from the receipt of the NYSE notice to regain compliance with the minimum share price requirement. During the interim period, Dynegy’s common stock will continue to be listed and tra...

Dynegy Inc. Announces Agreement in Principle with Key Dynegy Holdings Creditors to Settle All Disputes

Wednesday April 4th 2012 10:09:00 AM

HOUSTON--(BUSINESS WIRE)--Apr. 4, 2012-- Dynegy Inc. (Dynegy) (NYSE: DYN) announced today that it has reached an agreement in principle with creditors holding over $2.5 billion of claims against Dynegy's subsidiary, Dynegy Holdings, LLC (DH). The agreement in principle contemplates the resolution of all disputes, claims and causes of action between DH and Dynegy. The terms of the agreement in principle will be implemented through a settlement agreement to be filed in DH's Chapter 11 case, and in amendments to DH's Chapter 11 plan, which would be subject to a formal creditor vote and confirmation by the bankruptcy court. Under the agreement in principle, (A) DH's unsecured creditors would rec...

Dynegy Responds to Examiner's Report

Friday March 16th 2012 06:31:00 AM

HOUSTON--(BUSINESS WIRE)--Mar. 16, 2012-- Dynegy Inc. (NYSE: DYN) today announced that it has filed a response to the Examiner's Report with the United States Bankruptcy Court for the Southern District of New York, Poughkeepsie Division. In connection with the filing of the response, the Company noted that the Examiner's Report is not evidence, is non-binding and is not the conclusion of any court. "Dynegy is both troubled and disappointed by the Examiner's Report as we continue to believe our restructuring activities benefited all stakeholders and were conducted in the proper manner," commented Robert C. Flexon, Dynegy President and Chief Executive Officer. The Examiner conducted a 60 d...

Dynegy Comments on Examiner Report

Friday March 9th 2012 12:28:37 PM

HOUSTON--(BUSINESS WIRE)--Mar. 9, 2012-- Dynegy Inc. (NYSE: DYN) today announced that it has received an executive summary of the report filed by the examiner appointed in the chapter 11 bankruptcy proceedings for its wholly-owned subsidiary Dynegy Holdings LLC (DH) and four of DH’s subsidiaries. The Board of Directors of Dynegy and the Board of Managers of DH take the examiner’s findings seriously and intend to review the full report, once it is made available, to determine its impact on DH’s chapter 11 proceedings, if any. The executive summary of the report is available on DH’s reorganization website, http://dm.epiq11.com/...

Dynegy Announces Full-Year 2011 Results, Provides Restructuring Update

Thursday March 8th 2012 07:30:51 AM

Full year 2011 summary: $281 million in Adjusted EBITDA, a decrease of $258 million compared to 2010 $(20) million in Cash Flow from Operations $1,084 million in liquidity at March 2, 2012, including $860 million in cash on hand and letter of credit availability PRIDE results exceeded targets with $58 million in cash cost savings and $376 million in collateral and other balance sheet improvements Fourth quarter 2011 summary: $(14) million in Adjusted EBITDA, a decrease of $117 million compared to the fo...

Dynegy to Announce 2011 Results on March 8

Wednesday February 29th 2012 04:59:00 PM

HOUSTON--(BUSINESS WIRE)--Feb. 29, 2012-- Dynegy Inc. (NYSE: DYN) announced that it plans to report 2011 financial results on Thursday, March 8, 2012. Dynegy President and Chief Executive Officer Robert C. Flexon and members of the Company’s senior management team will discuss results during an investor presentation to be webcast live beginning at 9 a.m. ET/8 a.m. CT on March 8. The listen-only webcast on March 8 can be accessed via the “Investor Relations” section of the Company’s website at http://www.dynegy.com. For persons unable to listen to the live webcast, the call will be archived and available for replay on the Company’s website for a one-year period. Dynegy’s subsidiaries prod...

Thomas W. Elward Appointed Dynegy Board Chairman

Friday December 2nd 2011 07:30:00 AM

E. Hunter Harrison to resign from Chairman and Director roles HOUSTON--(BUSINESS WIRE)--Dec. 2, 2011-- Dynegy Inc. (NYSE: DYN) today announced that Thomas W. Elward, a current independent member of the Dynegy Board of Directors, will serve as the non-executive Chairman of the Board and that E. Hunter Harrison will resign as Chairman of the Board and Director, effective as of December 16, 2011. Dynegy Director, President and Chief Executive Officer Robert C. Flexon thanked Mr. Harrison for his service and contributions to the company during his tenure. “Hunter provided leadership through a very challenging transition earlier this year. The Company appreciates his contributions as both int...

Dynegy Inc. and Dynegy Holdings, LLC File Proposed Chapter 11 Plan of Reorganization for Dynegy Holdings, LLC

Thursday December 1st 2011 10:47:00 PM

Filing Marks the Initial Step toward the Conclusion of the Subsidiary's Chapter 11 Case HOUSTON, Dec 01, 2011 (BUSINESS WIRE) -- Dynegy Inc. (NYSE: DYN) today announced that it has joined its subsidiary, Dynegy Holdings, LLC (DH), in filing a proposed Plan of Reorganization for DH (the DH Plan) with the United States Bankruptcy Court for the Southern District of New York, Poughkeepsie Division (Bankruptcy Court). The DH Plan provides for the treatment and satisfaction of all claims against DH, including its senior and subordinated notes and its guaranties of its Roseton and Danskammer lease obligations. If confirmed by the Bankruptcy Court, the proposed DH Plan will settle all pending and ...