TXU to price $400 million 10-year secured notes on Wednesday

By Paul A. Harris

Portland, Ore., Jan. 31 - Energy Future Intermediate Holding Co. LLC and EFIH Finance Inc. plan to price a $400 million offering of 10-year senior secured second-lien notes on Wednesday, according to market sources.

Goldman Sachs & Co., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are the joint bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to pay a dividend to Energy Future Holdings Corp. (EFH), which will use the proceeds to repay a portion of the demand notes payable by EFH to its wholly owned subsidiary Texas Competitive Electric Holdings Co. LLC (TCEH) that have arisen from cash loaned by TCEH to EFH.

The issuing entities are subsidiaries of Energy Futures Holding Corp., a Dallas-based holding company engaged in competitive and regulated energy market activities, primarily in Texas. Its portfolio of competitive businesses consists primarily of TXU Energy, a retail electricity provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.