Dynegy Holdings to redeem second-priority floaters due 2008

By Jennifer Chiou

New York, June 15 - Dynegy Inc. said its wholly owned subsidiary Dynegy Holdings Inc. will redeem its $74.28 million of second-priority senior secured floating-rate notes due 2008.

The Houston-based electricity provider will redeem the notes at 103% plus accrued interest to July 15, the redemption date.

The interest rate on the notes is three-month Libor plus 650 basis points.

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