Reuters reported that Independent power producer Dynegy Inc 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 equity stake in Coal Holdco is USD 1.25 billion including debt. Dynegy bought the ownership of Coal Holdco from its former direct parent Dynegy Gas Investments.
Dynegy in August completed a USD 1.7 billion debt restructuring deal and separated its coal fueled and gas fueled units to help pay off maturing debt. The refinancing comprised a USD 1.1 billion loan to its gas unit Dynegy Power and a USD 600 million loan to its coal unit.
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