RESTRUCTURING

摘要

Texas power company Energy Future Holdings has extended the maturity of its US$5.475bn debtor-in-possession loan by 6.5 months. The extension provides EFH with runway to facilitate the sale of its stake in Oncor Electric Delivery Co to power producer NextEra Energy. Upon completion of the sale, the DIP will be repaid in full. NextEra in July said it had agreed to purchase EFH's approximately 80% indirect interest in Oncor in a deal valued at US$18.4bn. On Monday, EFH announced the appointment of a new leadership team, effective as of October 4. The new managers, all formerly with EFH, are charged with overseeing the completion of the company's Chapter 11 emergence process, including direct oversight of the proposed sale of EFH's stake in Oncor to a subsidiary of NextEra, according to a company statement.