Energy Future Extends $646 Million of Revolving Loans Until 2016
Lenders to Energy Future Holdings Corp.’s unregulated electricity unit agreed to extend the maturity of $646 million in revolving credit commitments.
Texas Competitive Electric Holdings Co. added $340 million in term loans due in 2017 to compensate creditors, who allowed the power producer to push the maturity on commitments expiring this year to 2016, Dallas-based Energy Future said today in a regulatory filing. The company, formerly known as TXU Corp., requested the extension last month.
In 2007, KKR & Co., TPG Capital and Goldman Sachs Capital Partners took Energy Future private for $43.2 billion, the largest leveraged buyout ever. The power producer has posted seven consecutive quarterly losses and had $37.4 billion of long-term borrowings as of Sept. 30.
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