CDPQ acquires ~30% indirect equity stake in AES Ohio for $544M; proceeds to repay $415M notes

DAYTON POWER & LIGHT CO

CDPQ subsidiary Astrid Holdings LP purchased 15% of AES Ohio Holdings and 17.65% of AES Ohio Investments for total $544M, closing April 4, 2025.
CDPQ now holds ~30% indirect equity interest in AES Ohio (The Dayton Power and Light Company).
DPL LLC will use portion of proceeds to repay in full $415M of 4.125% senior notes due July 1, 2025.
Remaining proceeds for general corporate purposes, including equity contributions to AES Ohio.
Board of directors reduced from nine to three via amendment to Code of Regulations effective April 3, 2025.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

DAYTON POWER & LIGHT CO: Decreased the authorized number of directors on the board from nine to three via an amendment and restatement of the Code of Regulations (effective 2025-04-03).

Change: bylaw amendment
Effective: 2025-04-03

Exact text from the filing

On April 3, 2025, the Company's shareholder approved an amendment and restatement of the Code of Regulations of the Company (the " Amended and Restated Code of Regulations "), to, among other things, modify the language in Article II, Section 2 to decrease the authorized number of directors on the Company's board of directors from nine to three.

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Source: SEC EDGAR

accession 0000950103-25-004415

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