Dynegy, which had a market capital of $2.98 billion as of Thursday's close, said it intends to issue about $5 billion in new unsecured bonds and $1.25 billion in equity and equity-linked securities to fund the deals.
The company also said it secured two incremental corporate-level revolving credit facilities totaling $950 million, bringing its total revolving credit capacity to $1.43 billion.
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"The addition of these portfolios transforms Dynegy by adding considerable scale in the PJM (Pennsylvania, New Jersey, Maryland) and New England markets," Dynegy Chief Executive Robert Flexon said.
Flexon expects the deals to improve the company's financial outlook by tripling its 2015 adjusted EBITDA and adding to free cash flow per share in 2015 and beyond.
Dynegy said its $3.2 billion net operating loss position would offset the combined company's taxable income, providing nearly $500 million in tax savings.