Dynegy Inc (DYN.N) can proceed with its debt restructuring after a Delaware judge on Friday declined to grant a temporary restraining order to stop the company's overhaul. The ruling clears the way for the $1.7 billion debt refinancing that Dynegy was preparing to close this week. Public Service Enterprise Group (PEG.N) opposed the reorganization because it feared it would not be able to enforce financing guarantees after Dynegy splits off gas and coal assets into new entities. The case is Roseton OL LLC and Danskammer OL LLC v Dynegy Holdings Inc, Delaware Chancery Court, No. 6689.
Dynegy Inc. (Dynegy) is a holding company and conducts the business operations through its subsidiaries. Shares of DYN fell by 3.21% or $-0.19/share to $5.72. In the past year, the shares have traded as low as $2.76 and as high as $6.92. On average, 1948400 shares of DYN exchange hands on a given day and today's volume is recorded at 1323021.
Public Service Enterprise Group Incorporated (PSEG) is a holding company that operates through three principal direct wholly owned subsidiaries: PSEG Power LLC (Power), Public Service Electric and Gas Company (PSE&G) and PSEG Energy Holdings LLC (Energy Holdings). Shares of PEG fell by 1.03% or $-0.34/share to $32.75. In the past year, the shares have traded as low as $30.15 and as high as $34.75. On average, 2643870 shares of PEG exchange hands on a given day and today's volume is recorded at 3232663.
Source
