Dynegy Launches Senior Notes Offering

HOUSTON–(BUSINESS WIRE)–Dynegy Inc. (NYSE:DYN) is launching an offering of $600 million in
aggregate principal amount of senior notes due 2026 in a private
placement (New Notes). Dynegy intends to use the proceeds of the
offering, together with approximately $480 million of cash received in
July 2017 in connection with the sale of the Armstrong and Troy plants
and approximately $195 million of other cash-on-hand, (i) to pay the
consideration in connection with a tender offer (Tender Offer) to
purchase for cash up to $1.2 billion aggregate principal amount of
Dynegy’s outstanding 6.75% Senior Notes due 2019 (2019 Notes) and/or a
conditional notice of redemption to redeem the same principal amount of
2019 Notes (less the amount repurchased in the Tender Offer), (ii) to
pay related fees and expenses and (iii) for general corporate purposes.

The New Notes are being offered in a private placement transaction to
qualified institutional buyers in accordance with Rule 144A under the
Securities Act of 1933, as amended (Securities Act), and outside the
United States in accordance with Regulation S under the Securities Act.
The New Notes have not been registered under the Securities Act or the
securities laws of any other jurisdiction and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements.

This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security, nor shall there be any
sale of any security in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.

ABOUT DYNEGY

At Dynegy, we generate more than just power for our customers. We are
committed to being a leader in the electricity sector. Throughout the
Northeast, Mid-Atlantic, Midwest and Texas, Dynegy operates power
generating facilities capable of producing more than 28,000 megawatts of
electricity—or enough energy to power about 22 million American homes.
We’re proud of what we do, but it’s about much more than just output.
We’re always striving to generate power safely and responsibly for our
wholesale and retail electricity customers who depend on that energy to
grow and thrive.

FORWARD-LOOKING STATEMENTS

This news release contains statements reflecting assumptions,
expectations, projections, intentions or beliefs about future events
that are intended as “forward-looking statements,” particularly those
statements concerning expectations regarding the use of proceeds from
the offering. Discussion of risks and uncertainties that could cause
actual results to differ materially from current projections, forecasts,
estimates and expectations of Dynegy is contained in Dynegy’s filings
with the Securities and Exchange Commission. Specifically, Dynegy makes
reference to, and incorporates herein by reference, the section entitled
“Risk Factors” in its 2016 Form 10-K and subsequent Form 10-Qs. Any or
all of Dynegy’s forward-looking statements may turn out to be wrong.
They can be affected by inaccurate assumptions or by known or unknown
risks, uncertainties and other factors, many of which are beyond
Dynegy’s control.

Contacts

Dynegy Inc.
Media:
Julius Cox, 713-767-5800
or
Analysts:
713-507-6466