Dynegy Continues Quest For Cash

摘要

Cash-strapped energy merchant Dynegy said it will sell stakes in various assets to pay down debt, boost cash reserves and restore market confidence. Expanded cutbacks in staff will also hit the company's coal-trading operation.Houston-based Dynegy outlined plans to raise cash and cut spending for a total balance sheet improvement of 2 billion dollars. The company is also considering a convertible-equity offering, depending on market conditions, beyond the 2 billion dollars scheme.