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Energy Future revises amendment fee/OID on DIP term loan to 12.5 bps
By Sara Rosenberg
New York, Oct. 13 – Energy Future Intermediate Holding Co. LLC reduced the amendment fee/new money original issue discount on its $5,475,000,000 debtor-in-possession term loan due June 30, 2017 to 12.5 basis points from 25 bps, according to a market source.
The term loan includes an extension of the maturity on an existing $5.4 billion DIP term loan by 6.5 months and a $75 million upsize.
As before, the loan also provides for a six-month extension option from June 30, 2017, subject to certain conditions, for which lenders would get a 25 bps second extension fee.
Pricing on the term loan is Libor plus 325 bps with a 1% Libor floor, which matches current pricing.
Deutsche Bank Securities Inc. is the bookrunner on the deal.
Recommitments were scheduled to be due at 5 p.m. ET on Thursday, the source added.
Energy Future is a Dallas-based power generation company and utility operator. The company filed for bankruptcy on April 29, 2014. The Chapter 11 case number is 14-10979.
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