DYNEGY INC. (NYSE:DYN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement.
Sixth Amendment to Credit Agreement
On December20, 2017, Dynegy Inc. (the “Company”), the guarantors party thereto, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch (“Credit Suisse “), as administrative agent, entered into an amendment (the “Sixth Amendment “) to the Company’s existing Credit Agreement, dated as of April23, 2013 (as amended or supplemented, (the “Existing Credit Agreement “). All capitalized terms used in this portion of this Item 1.01 but not otherwise defined shall have the meanings given to them in the Existing Credit Agreement.
The Sixth Amendment provides that, among other things, the interest rate margins applicable to the Term Loans were reduced from 2.25% to 1.75%, with respect to base rate borrowings, and from 3.25% to 2.75%, with respect to LIBOR borrowings, which reduction was effected by the exchange of Tranche C-1 Term Loans for new Tranche C-2 Term Loans, otherwise having substantially the same terms as the Tranche C-1 Term Loans. Additional reductions of the interest rate margins applicable to the Term Loans, from 2.25% to 1.50%, with respect to base rate borrowings, and from 2.75% to 2.50%, with respect to LIBOR borrowings, are available to the Company under the Sixth Amendment based on certain corporate ratings or corporate family ratings of the Borrower from Moody’s and S&P, respectively.
The foregoing summary highlights information contained in the Sixth Amendment. It does not contain all the information that may be important to you and is qualified in its entirety by reference to the terms of the Existing Credit Agreement and the Sixth Amendment attached hereto as Exhibits 10.1 and 10.2, respectively, and incorporated herein by reference.
Item 1.01Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of the Registrant.
The information included in Item 1.01 above with respect to the Sixth Amendment is incorporated by reference into this Item 1.01.
