Energy Future Bonds Drop After Report of Third-Quarter Loss
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The bonds of Energy Future Holdings Corp., the Texas power company that was taken private in 2007 in the largest buyout in history, plunged after it announced a $407 million third-quarter loss.
The energy provider’s $744.3 million of 6.55 percent bonds due November 2034 fell 9.8 cents on the dollar to 38.3 cents at 2:30 p.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.