Texas Competitive Electric Raises $1.75B

Texas Competitive Electric Holdings and TCEH Finance have raised $1.75 billion in a sale of notes.

Texas Competitive Electric Holdings and TCEH Finance have raised $1.75 billion in a sale of notes, Reuters reports. The senior secured notes were sold in the 144a private placement market.

The electricity generator appointed JP Morgan, Goldman Sachs, Citigroup, Credit Suisse and Morgan Stanley were the joint bookrunning managers for the transaction. The notes carry a coupon rate of 11.5%, and are due to mature on Oct. 1, 2020.

Click here for the story from Reuters.