12.21.12Energy Future Holdings Corp., Energy Future Intermediate Holding Company LLC and EFIH Finance Inc. Announce Private Exchange Offers for Debt Securities and Related Consent Solicitations
Energy Future Holdings Corp. ("EFH Corp.”) announced today that its direct, wholly owned subsidiary, Energy Future Intermediate Holding Company LLC ("EFIH”), and EFIH Finance Inc. ("EFIH Finance” and, together with EFIH, the "Offerors”), a direct, wholly owned subsidiary of EFIH, are commencing private exchange offers (the "First Lien Exchange Offers”) to exchange up to approximately $1.3 billion aggregate principal amount of new 10.000% Senior Secured Notes due 2020 of the Offerors (the "New First Lien Notes”) for any and all outstanding (i) 9.75% Senior Secured Notes due 2019 of EFH Corp., (ii) 10.000% Senior Secured Notes due 2020 of EFH Corp., and (iii) 9.75% Senior Secured Notes due 2019 of the Offerors (collectively, the "Existing First Lien Notes”). The Offerors will exchange New First Lien Notes for Existing First Lien Notes on the terms set forth in Table 1 below, subject to the conditions of the First Lien Exchange Offers. In addition, concurrent with the First Lien Exchange Offers, the Offerors and EFH Corp. are soliciting (the "Consent Solicitations”) consents (the "Consents”) from holders of Existing First Lien Notes to proposed amendments (the "Proposed Amendments”) to the indentures governing the Existing First Lien Notes (the "Existing First Lien Notes Indentures”) and to such Existing First Lien Notes.
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