#United States #Dayton #AES Corporation #consent solicitation #DPL LLC

DPL LLC's Notification of Consent Solicitation Changes

In a recent announcement dated March 16, 2026, DPL LLC, formerly known as DPL Inc., outlined key amendments to its ongoing solicitation of consents associated with its 4.35% Senior Notes due 2029. This strategic decision, communicated through their Consent Solicitation Statement, aims to facilitate vital amendments to the indenture governing these Notes.

Key Amendments Overview

The revised terms of the Consent Solicitation, as specified in the latest update, include an extension of the expiration deadline to 5:00 PM New York City time on March 18, 2026. DPL LLC has also raised the incentive for holders of the Notes who consent to the Proposed Amendments, increasing the consent fee from $1.00 to $2.50 per $1,000 principal amount of Notes. This adjustment is aimed at encouraging participation among current holders of the Notes who have a stake in the future of DPL LLC and its financial stability.

Conditions for the Increased Consent Fee

The heightened fee is contingent upon several factors as detailed in the Consent Solicitation Statement. Specifically, it necessitates:

• - The consent of holders representing a majority of the total principal amount of outstanding Notes.
• - Successful completion of a significant merger, expected to occur in late 2026 or early 2027.

Importantly, holders who have already granted their consent in previous communications do not need to take any additional steps to qualify for this increased fee. However, they are encouraged to refer to the original Consent Solicitation Statement to understand the full implications of the revisions and their rights moving forward.

Roles of Financial Institutions

DPL LLC has enlisted the expertise of significant financial partners in the process. Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. have been appointed as the solicitation agents to oversee the Consent Solicitation. Meanwhile, Global Bondholder Services Corporation (GBSC) is tasked with providing crucial information and managing the tabulation of consents.

Inquiries regarding the Consent Solicitation can be directed to the solicitation agents, who are equipped to handle questions about the process, including how to consent or request copies of the pertinent documents.

Current Status and Future Projections

The announcement comes at a critical time for DPL LLC, which focuses on delivering energy services through its primary subsidiary, The Dayton Power and Light Company. Serving over 541,000 customers across a vast service area in West Central Ohio, DPL LLC is committed to operational excellence within the energy sector. The impending merger and resultant amendments are expected to not only stabilize the company's financial footing but also position it strategically for future growth and sustainability in an evolving energy market.

Furthermore, DPL LLC is a part of The AES Corporation, a global energy company recognized for advocating greener energy solutions. This partnership further affirms DPL’s commitment to enhancing its service offerings and operational capabilities.

Conclusion

As DPL LLC navigates these amendments to its Consent Solicitation, stakeholders and investors are encouraged to engage with the revised terms. The growth trajectory of DPL LLC, backed by the increased consent fee and expected merger completion, signifies a promising outlook ahead. Investors should remain abreast of the developments, as the implications of these changes are expected to significantly influence the company's operational landscape and financial strategy in the coming years.