Illinois Power may sell senior secured notes in Rule 144A transaction

By Sheri Kasprzak

New York, Oct. 20 - Illinois Power Co. is gearing up to price senior secured notes, according to a form 8-K filed Monday with the Securities and Exchange Commission.

The exact size of the sale and the pricing date were unavailable by press time Monday.

The Rule 144A notes are going to be sold privately and will be aimed at institutional buyers and a limited number of institutional accredited investors, according to the SEC filing.

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