Energy Future Holdings is planning to offer $1.725 billion in debt, as part of its debt restructuring plans, The Wall Street Journal reports. The private offering of senior secured notes will mature in 2020. The note sale is a condition Energy Future has to fulfill before closing a deal with existing lenders who agreed to delay repayment of $17.77 billion of debt. The proceeds of the new offering will be used to pay those lenders higher interest rates and upfront fees in exchange for the loan extensions.
Click here for the story from The Wall Street Journal.