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Illinois Power starts roadshow for $500 million eight-year first mortgage notes
By Paul A. Harris
St. Louis, Dec. 11 - Illinois Power Co. began a roadshow Wednesday for $500 million of first mortgage notes due 2010 (B3/B), according to a syndicate source.
The deal is expected to price during the week of Dec. 16.
Merrill Lynch & Co. and Credit Suisse First Boston are joint bookrunners.
The Rule 144A notes are non-callable for four years.
Proceeds will be used to refinance debt.
The issuer, a subsidiary of Dynegy Inc., is an electric utility based in Decatur, Ill.
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