DPL LLC Extends Expiration Time for Consent Solicitation to Engage Bondholders

Introduction

On March 25, 2026, DPL LLC (previously known as DPL Inc.) made a crucial announcement regarding the extension of its consent solicitation expiration time. The company has decided to extend the deadline for its solicitation of consents from holders of its 4.35% Senior Notes, which are due in 2029. This decision aims to engage a larger number of bondholders in the proposed amendments to the indenture governing these notes.

Details of the Extension

Originally, the expiration of the consent solicitation was scheduled for March 24, 2026. However, due to the ongoing developments and the need to gather more support, DPL LLC has extended this deadline to 5:00 PM New York City time on March 27, 2026. As of the previous expiration date, approximately 35% of the outstanding $400 million on the notes had been accounted for with valid consents delivered to adopt the proposed amendments.

This extension gives bondholders additional time to consider the implications of the amendments and ensures that those who have already consented do not need to take further actions because of the new deadline.

Proposed Amendments

The proposed amendments, as outlined in the consent solicitation statement issued on March 5, 2026, are part of DPL’s broader strategy to manage its obligations under the notes and improve its financial flexibility. The consent payment being offered for those who validly deliver (and do not revoke) consents before the new expiration time is set at $1,000,000, which will be shared among all consenting holders. This incentive further encourages participation and underscores the importance DPL places on securing adequate support.

Role of Goldman Sachs and Citigroup

The solicitation process is being conducted with the assistance of Goldman Sachs & Co. LLC and Citigroup Global Markets Inc., which are acting as solicitation agents. Their roles involve managing the outreach and facilitating communication with bondholders regarding the consent solicitation. Additionally, Global Bondholder Services Corporation is serving as both the information agent and tabulation agent to streamline the process and address any inquiries related to the solicitation.

Investors and bondholders can reach out to Goldman Sachs or Citigroup directly with specific questions about the consent solicitation, while requests for assistance in completing and delivering consents can be directed to Global Bondholder Services Corporation.

Importance of Bondholder Engagement

The purpose of this solicitation and the subsequent extension is multifaceted. Engaging more bondholders ensures that DPL LLC can achieve the necessary consent levels for the proposed amendments. This is critical in an ever-changing financial landscape, as it may influence the company’s operational strategies and financial health in the long run.

DPL LLC emphasizes that the consent solicitation remains strictly confined to the terms set forth in the consent solicitation statements previously issued, allowing bondholders to have a clear understanding of the process and the implications of their decisions.

Conclusion

As DPL LLC moves forward with its revised consent solicitation timeline, the company remains focused on enhancing communication with its stakeholders. This extension is a strategic move to solidify support from bondholders and fortify its financial position amidst ongoing challenges. Investors are encouraged to review the complete details outlined in the consent solicitation statement and consider their participation as the new deadline approaches.

For further assistance, DPL LLC and its solicitating partners stand ready to provide the necessary support and information needed by bondholders to make informed decisions.