Energy Future EFIH debtors approved to extend, increase DIP facility

By Caroline Salls

Pittsburgh, Sept. 20 – Energy Future Holdings Corp. debtors Energy Future Intermediate Holding Co. LLC (EFIH) and EFIH Finance Inc. received court approval to extend the maturity and increase the principal amount of their debtor-in-possession credit agreement, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the maturity date of the first-lien DIP facility was extended to June 30, 2017 from Dec. 19 and the amount of the facility was increased to $5.48 billion from $5.4 billion.

The debtors said they need to maintain their post-bankruptcy financing while they complete their Chapter 11 reorganization, including a merger transaction estimated to close in early 2017.

Energy Future, a Dallas-based power generation company and utility operator, filed for bankruptcy April 29, 2014. The Chapter 11 case number is 14-10979.

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