Energy Future Holdings is close to signing up at least $9.7 billion of bankruptcy loans from a consortium led by Citigroup and Deutsche Bank, according to two sources involved in the matter, allowing it to finance its operations during a bankruptcy expected to be filed by Tuesday. While the loan amounts remain subject to change, the Texas power company plans to seek Chapter 11 protection by Tuesday with the so-called debtor-in-possession (DIP) loan in place, whether or not it reaches a consensual restructuring deal with the its creditors before then, said the people, who declined to be named because talks are private.Citi is leading an approximately $4.5 billion DIP loan at the company's unregulated merchant generation unit, while Deutsche Bank is taking the lead on a $5.2 billion DIP at Energy Future Intermediate Holdings, which owns most of the company's regulated business, said the people familiar with the matter.A spokesman for the Houston-based company declined to comment. A Citi spokesperson could not be reached for comment and Deutsche Bank also declined to comment.Other banks arranging loans include Morgan Stanley, Bank of America Merrill Lynch, Barclays, Royal Bank of Canada and Sumitomo Mitsui.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 6.35% or $-1.0131/share to $14.94. In the past year, the shares have traded as low as $12.05 and as high as $18.03. On average, 105437000 shares of BAC exchange hands on a given day and today's volume is recorded at 284397888.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 2.23% or $-0.68/share to $29.80. In the past year, the shares have traded as low as $21.53 and as high as $33.52. On average, 13278300 shares of MS exchange hands on a given day and today's volume is recorded at 11299547.
Royal Bank of Canada is a Canada-based banking company. Shares of RY fell by 0.09% or $-0.06/share to $65.55. In the past year, the shares have traded as low as $55.49 and as high as $68.89. On average, 440849 shares of RY exchange hands on a given day and today's volume is recorded at 166905.
Royal Bank of Canada is a Canada-based banking company. Shares of RY fell by 0.17% or $-0.12/share to $72.29. In the past year, the shares have traded as low as $58.55 and as high as $73.69. On average, 1947200 shares of RY.TO exchange hands on a given day and today's volume is recorded at 699977.
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