October 20, 2014 10:11 PM ET

Electric Utilities

Company Overview of DPL Inc.

Company Overview

DPL Inc. operates as an electric energy and utility company in the United States. It operates in two segments, Utility and Competitive Retail. The company, through its subsidiary, The Dayton Power and Light Company, is engaged in the generation, transmission, and distribution of electricity to the wholesale market in West Central Ohio. It sells electricity to approximately 515,000 residential, commercial, industrial, and governmental customers in a 6,000 square mile area of West Central Ohio. The company generates electricity through seven coal-fired power plants. It serves automotive, food processing, paper, plastic manufacturing, and defense industries. The company, through its another sub...

1065 Woodman Drive

Dayton, OH 45432

United States

Founded in 1985

1,205 Employees

Phone:

937-224-6000

Key Executives for DPL Inc.

Chief Financial Officer and Senior Vice President
Executive Vice President of Operations
Age: 49
Chief Executive Officer of The Dayton Power and Light Company and President of The Dayton Power and Light Company
President of Competitive Generation
Chief Administrative Officer and Senior Vice President
Age: 57
Compensation as of Fiscal Year 2014.

DPL Inc. Key Developments

DPL Inc. Completes Offering of $200 Million in Aggregate Principal Amount of Senior Notes Due 2019

DPL completed the offering of $200 million in aggregate principal amount of senior notes due 2019 (the "Notes") in a private placement to eligible investors. DPL used the net proceeds from the offering, together with cash on hand and the proceeds of other short term borrowings, to finance its previously announced tender offer for up to $300 million of its outstanding 6.50% Senior Notes due 2016 and to pay related fees and expenses. Payments of interest on the Notes are payable on April 1 and October 1 of each year, commencing April 1, 2015. Principal on the Notes is payable on the maturity date, which is October 1, 2019. DPL may redeem some or all of the Notes at any time before September 1, 2019 at a redemption price equal to 100% of the principal amount, plus a make-whole premium calculated based on the applicable Treasury Rate plus 50 basis points, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. DPL may redeem some or all of the Notes at any time on or after September 1, 2019 at a redemption price equal to 100% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

DPL Inc. Announces Extension of Tender Offer, Increase in Maximum Tender Amount and Acceptance and Early Settlement of Securities

DPL Inc. announced that it is extending the expiration date for its previously announced tender offer for its outstanding 6.50% Senior Notes due 2016. The tender offer will now expire at 11:59 p.m. New York City time on October 20, 2014, unless extended or earlier terminated. The tender offer is being made upon, and is subject to, the terms and conditions set forth in the Offer to Purchase, dated September 3, 2014 and the related Letter of Transmittal. DPL also announced that it is increasing the 'Maximum Tender Amount' for the tender offer from $280 million in aggregate principal amount of outstanding Securities to $300 million in aggregate principal amount and amending the 'Financing Condition' for the tender offer. The 'Financing Condition' now means (a) the consummation of the New Debt Financing in a minimum aggregate principal amount of $200 million and (b) the determination by DPL, in its sole discretion, that it has funds available in a sufficient amount from the New Debt Financing, cash on hand and/or the proceeds of short term borrowings to purchase the Securities it accepts for purchase in the tender offer and to pay the fees and expenses related to the tender offer, in each case on terms that are satisfactory to DPL in its sole discretion. DPL also announced that it intends to accept for purchase $300 million aggregate principal amount of Securities, being the increased Maximum Tender Amount of Securities validly tendered on or before 11:59 pm New York City time on October 3, 2014. Holders of Securities that were validly tendered at or prior to 5:00 p.m. New York City time on September 19, 2014 and are accepted for purchase will receive the 'Total Consideration' of $1,092.56, which includes the early tender premium of $50.00 per $1,000 principal amount of Securities validly tendered. Holders validly tendering Securities after the Early Tender Date but before the Expiration Date and which are accepted for purchase will be eligible to receive only the 'Tender Offer Consideration' of $1,042.56, which equals the Total Consideration less the Early Tender Premium. No tenders submitted after the Expiration Date will be valid. DPL will pay accrued and unpaid interest from and including the last interest payment date applicable to the Securities up to, but not including, the applicable settlement date for Securities accepted for purchase.

Dpl Inc. Announces Early Tender Results and Pricing of its Tender Offer for Up to $280 Million of its Outstanding 6.50% Senior Notes Due 2016

DPL Inc. announced early tender results and pricing of its tender offer for up to $280 million of its outstanding 6.50% senior notes due 2016. DPL Inc. announced early tender results and pricing of its tender offer for up to $280 million of its outstanding 6.50% senior notes due DPL Inc. announced early tender results and pricing of its tender offer for up to $280 million of its outstanding 6.50% senior notes due 2016. On Sept. 19, AES Corp. subsidiary received tenders for about $363.8 million of the notes in the offer, the company said in a news release. The tender offer will expire at 11:59 p.m. ET on Oct. 3, unless extended or earlier terminated. The withdrawal deadline of 5 p.m. ET on Sept. 19 has passed and to date has not been extended. Because the aggregate amount of the notes validly tendered pursuant to the offer exceeds the maximum tender amount, DPL expects to accept an amount of the notes equal to the maximum tender amount for purchase, and will pay holders of such validly tendered notes. Noteholders, who validly tendered the notes at or prior to Sept. 19 and accepted for purchase, will receive the total consideration, which includes the early tender premium of $50.00 per $1,000 of the notes. Noteholders tendering the notes after the Sept. 19 but before Oct. 3 will be eligible to receive only the tender offer consideration, which will equal the total consideration less the early tender premium. No tenders submitted after Oct. 3 will be valid. The company, on Sept. 17, extended the expiration date of the offer. The settlement date for the notes validly tendered on or before Oct. 3 will occur promptly following Oct. 3, and is currently expected to be Oct. 6. DPL will pay accrued and unpaid interest from and including the last interest payment date applicable to the notes up to, but not including, the settlement date for the notes accepted for purchase. The offer is conditioned upon the satisfaction of certain conditions, including a financing condition, a minimum tender condition and other general conditions. Subject to applicable law, DPL may also terminate the tender offer at any time before the expiration date in its sole discretion.

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