ORIONS Money Stocks

[cantgetmyname]

DYN, looks like shares will be worthless soon . . .

-- DH's unsecured creditors would receive common equity representing a 99% stake in the reorganized company at emergence. DH claims participating in this recovery would include those arising under DH's senior notes, which currently total approximately $3.4 billion, PSEG's $110 million tax indemnity claim and the Lease Notes' guaranty claim against DH, which would be allowed in the amount of $540 million. All distributions to holders of claims arising under DH's subordinated notes would be subject to turnover pursuant to the contractual subordination provisions in the subordinated note indenture.

-- Dynegy would receive a claim for the benefit of its stockholders, which under the amended plan would be entitled to receive 1.0% of the fully-diluted common stock of the reorganized company, and 5-year warrants to purchase 13.5% of the common stock of the reorganized company (on a fully-diluted basis) to be exercisable at an equity value for the reorganized company of $4 billion. Dynegy's stockholders will not receive or retain any other property or shares in Dynegy or DH under the contemplated settlement.