Morgan Stanley underwrites Dayton Power and Light's refinancing of $214 million tax-exempt pollution control debt
Clients Morgan Stanley
Jones Day advised Morgan Stanley, KeyBanc Capital Markets, and ABN AMRO Financial Services as underwriters in The Dayton Power and Light Company's refinancing of $214 million of tax-exempt pollution control debt obligations. The refinancing consisted of $41.3 million of Ohio Water Development Authority bonds, $137.8 million of Ohio Air Quality Development bonds, and $35.3 million of Boone County, Kentucky bonds. The bond refinancing is part of DP&L's financial restructuring program which includes reducing debt by up to $500 million and repurchasing up to $400 million of stock.