Energy Future Says $4.6 Billion of Debt Tendered

(Reuters) – Energy Future Holdings on Friday said debt holders have tendered $4.47 billion of notes, or 99.58 percent of the amount outstanding in its latest debt exchange offer.

The privately held company said it has accepted about $3.59 billion of the notes tendered for exchange, including $1.428 billion of 10.875 percent senior notes due 2017 and $2.166 billion of senior toggle notes due in 2017.

The Dallas, Texas-based energy company, formerly known as TXU Corp, launched its debt exchange last month as it sought to reduce the heavy debt load taken on in its 2007 buyout. The company added $24 billion in debt to fund its buyout by Kohlberg Kravis Roberts & Co [KKR.UL] and Texas Pacific Group [TPG.UL]

The company said in a statement that $2.18 billion in new senior secured notes will be issued to exchange for the old notes, in addition to $499.7 million in cash.

As part of the exchange offer, the company said it received the necessary consents from noteholders to amend the indentures, or borrowing terms on the old notes.

(Additional reporting by Karen Brettell) (Reporting by Dena Aubin; Editing by Theodore d’Afflisio)