Exhibit 99.1
FOR IMMEDIATE RELEASE |
| CONTACT: (937) 224-5940 |
DPL ENTERS INTO REVOLVING CREDIT FACILITY
DAYTON, OHIO, June 20, 2005 – DPL Inc (NYSE: DPL) announced that it has entered into a $100 million, 364-day unsecured revolving credit facility at its principal subsidiary, The Dayton Power and Light Company (DP&L). The facility replaces an agreement which expired May 31, 2005. It can be extended annually through May 30, 2010.
“The revolving facility provides sufficient liquidity and financial flexibility for our general operations and working capital needs,” said John Gillen, DPL Senior Vice President and Chief Financial Officer.
Key Bank N.A. is the administrative agent and co-lender, and LaSalle Bank N.A. is the other co-lender. At the Company’s discretion, the new facility can be increased up to $150 million. As of June 20, the Company had no outstanding borrowings under this credit agreement.
About DPL
DPL Inc. (NYSE: DPL) is a regional electric energy and utility company. DPL’s principal subsidiaries include The Dayton Power and Light Company (DP&L); DPL Energy, LLC (DPLE); and DPL Energy Resources, Inc. (DPLER). DP&L, a regulated electric utility, provides service to over 500,000 retail customers in West Central Ohio; DPLE engages in the operation of merchant peaking generation facilities; and DPLER is a competitive retail electric supplier in Ohio, selling to major governmental, industrial, and commercial customers. DPL, through its subsidiaries, owns and operates approximately 4,400 megawatts of generation capacity, of which 2,800 megawatts are low cost coal-fired units and 1,600 megawatts are natural gas fired peaking units. Further information can be found at www.dplinc.com.
Certain statements contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Matters presented which relate to events or developments that are expected to occur in the future, including management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters constitute forward-looking statements. Forward-looking statements are based on management’s beliefs, assumptions and expectation of the Company’s future economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Such forward-looking statements are subject to risks and uncertainties and investors are cautioned that outcomes and results may vary materially from those projected due to many factors beyond DPL’s control. Forward-looking statements speak only as of the date of the document in which they are made. We disclaim any obligation or undertaking to provide any updates or revisions to any forward-looking statement to reflect any change in our expectations or any change in events, conditions or circumstances on which the forward-looking statement is based.
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