Energy Future Holdings Bankruptcy Preparations

“Energy Future Holdings seeks $2Billion in loans in preparation for a chapter 11 bankruptcy petition.

The Wall Street Journal reports that EFH, formerly TXU Corp., is looking to get $2 Billion in loans to operate before declaring a chapter 11 bankruptcy petition. The loan would go to Texas Competitive Electric Holdings, subsidiary of EFH and carrier of $32 billion of the company’s $43.6 billion in debt. Due to a $270 million payment to newer lenders, like KKR, RPG and Goldman Sachs, due on November 1, older creditors may bring EFH to bankruptcy before then to prevent the payment from occurring.

Read more at: http://online.wsj.com/article/SB10001424127887323981304579081303009713422.html

 

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