Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Ameren Bonds Climb to Two-Month High on Dynegy Asset Purchases

Don't Miss Out —
Follow us on:

March 14 (Bloomberg) -- Ameren Corp.’s bonds rose to the highest level in more than two months after power producer Dynegy Inc. agreed to acquire five coal-fired power plants of the St. Louis-based company.

The company’s $300 million of 7 percent notes due April 15, 2018, climbed 17.8 cents to 73 cents on the dollar to yield 14.7 percent at 10:46 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. That’s the highest since the securities reached 78.3 cents on Jan. 3.

Dynegy will pay no cash in the transaction and Ameren will spend at least $133 million to buy back three natural gas-fueled plants from the unit it’s selling, the companies said in separate statements today. The subsidiary will come with $825 million of non-recourse debt and includes Ameren’s retail and marketing assets in the state.

Link to Company News:{AEE US <Equity> CN <GO>} Link to Company News:{DYN US <Equity> CN <GO>}

To contact the reporter on this story: Madhura Karnik in New York at mkarnik@bloomberg.net

To contact the editor responsible for this story: Richard Bravo at rbravo5@bloomberg.net