Reuters: Bankruptcy News: Energy Future Holdings warns of bankruptcy risk

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Energy Future Holdings warns of bankruptcy risk Feb 19th 2013, 12:42 Tue Feb 19, 2013 7:42am EST Feb 19 (Reuters) - U.S. power company Energy Future Holdings , formerly TXU Corp, said it could go into bankruptcy, liquidation or insolvency if lenders or noteholders accelerated repayment of all borrowings. A source familiar with the matter told Reuters earlier this month that the company had hired law firm Kirkland & Ellis and Blackstone Group LP to advise on ways to deal with its $52 billion debt load. "If lenders or noteholders accelerate the repayment of all borrowings, we would likely not have sufficient assets and funds to repay those borrowings," Energy Future Holdings said under the risk factors section of a regulatory filing on Tuesday. The company in January extended the maturity date of a $16.5 billion term loan to 2017 from 2014. It has also exchanged debt on which it owed cash payments for debt on which interest payments could be deferred.

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