Texas power company Energy Future looks to restructure debt

Sponsored by

Electric utility company Energy Future Holdings Corp. is seeking to restructure about $32 billion in debt, but no deal has yet been reached, according to reports.

Energy Future Holdings, formerly known as TXU Corp., became a private company in 2007 after a $45 billion buyout. That purchase was the largest leveraged buyout in history.

The company is proposing a restructure deal to its creditors that would exchange creditor claims for equity and new debt, according to a filing with the U.S. Securities and Exchange Commission. The company's leadership is not currently negotiating with creditors, according to reports.

Creditors have said, according to reports, they would consider restructuring if it increased distributions and compensated them for the risk of taking on equity.

The majority of the company's power generation is through coal and nuclear power plants. Subsidiaries of Energy Future Holdings include Oncor Electric Delivery and Texas Competitive Electric Holdings.

Oncor, a regulated power delivery business, is not part of the deal, according to reports.

The company's unregulated businesses, Luminant and TXU Energy, contain most of Energy Future Holdings' debt.

Some of Energy Future's largest creditors include Apollo Global Management, Oaktree Capital Management, Centerbridge Partners, Fidelity Investments and Franklin Resources, according to reports.

Sponsored by

WEBCASTS

Understanding Moisture Dynamics in Power Transformers

While the need to measure moisture in power transformers has been well documented and is universa...

Streamline Utility Field Inspections to Improve System Reliability &  Customer Satisfaction

Arm your workers with solutions that improve productivity and customer satisfaction. Listen in an...

Customers first: how utilities are using customer engagement to conquer new business challenges

Join ELP for a moderated discussion with Opower and Chartwell Research around customer engagement...

Real-world Business Drivers and Benefits of an Alstom Integrated DMS

Attend the Alstom Grid live webcast to hear executives from PPL Electric Utilities, Duke Ene...

EL&P BUYER'S GUIDE PRODUCTS

MITEM Corp

Provides CRM solutions for regulated U.S. public utilities. The product, MitemView integrates differently designed systems to share critical data a...

Resources on Demand

Manages resource requests, tracks personnel movements, and supports lodging/logistics during a power restoration event.

Smart Grids

Quanta is contributing to its customers' smart grid initiatives by installing technology on power networks to provide energy management solutions f...

Horizontal Directional Drilling

With 28 small, mid-sized and large drilling rigs, Quanta Pipeline Services is one of the largest horizontal directional contractors in the world fo...

POWERGRID BUYER"S GUIDE PRODUCTS

EtherMate® Industrial Ethernet - IO Modules

LioN-M ProfiNet device with 16 digital I/O channels, channels can be used universally as inputs or outputs, M12 socket, rotary address switches for...

Low-Smoke Zero Halogen Premise Distribution Cable

AFL’s Low-Smoke Zero Halogen (LSZH) distribution cable offers all of the benefits of a traditional 900 µm based optical cable while supporting comp...

OFL280 FlexTester - Handheld OTDR

AFL's OFL280 FlexTester offers an unmatched combination of fiber test functions, ease-of-use, portability, and value.

TRM® 2.0 - Test Results Manager PC Analysis and Reporting

Test Results Manager 2.0 (TRM® 2.0) is an all-in-one analysis, viewer and reporting tool designed for use with NOYES fiber and inspection products.

FEATURED ENERGY JOBS

View more Job Listings >>

POWERGRID International

April 2014
Volume 19, Issue 4
1404pg-cover

ELECTRIC LIGHT & POWER

January 2014
cover