Houston-based power generator, Dynegy, has appointed restructuring advisers to help reorganize its debt load and avoid a bankruptcy filing, The Wall Street Journal reports. Law firm, White & Case, and financial advisory firm, Lazard, Frères & Company, will negotiate with creditors. The restructuring alternatives include issuing new debt or equity, buying back shares, prepaying debt or selling assets. The company has nearly $4.8 billion in debt and faces debt maturities of nearly $164 million or less each year through 2014, adds Reuters. Dynegy creditors are being advised by investment bank, Houlihan Lokey.
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