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TXU to terminate $425 million revolver by Jan. 14
By Sara Rosenberg
New York, Dec. 29 - TXU Corp. plans to repay and terminate a $425 million revolving credit facility by Jan. 14 under which LOC 2003 Trust, a special purpose wholly owned subsidiary, is the borrower, according to an 8-K filed with the Securities and Exchange Commission.
The revolver was recently amended to reduce the size to $425 million from $500 million, shorten the maturity to Dec. 31, 2005 from July 15, 2008 and release the $525 million cash collateral that TXU provided to LOC Trust.
If the facility is not repaid by Jan. 14 then the cash collateral must be reinstated.
TXU is a Dallas electric company.
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