Brazos Electric Stakeholders Fret Over $350 Million DIP Loan

Brazos Electric Power Cooperative’s proposed $350 million debtor-in-possession financing is meeting resistance from creditors and customers who are at odds over how to pay for the electric retailer’s bankruptcy.

• Tri-County Electric Cooperative Inc. -- one of the 16 member cooperatives that own Brazos -- is concerned that additional debt will lead to higher bills for its own customers, jeopardizing its business
  • “No interest is served if the Debtor is reorganized at the cost of destroying the competitive viability of the member co-ops and their ability to serve their members by providing reasonably priced power,” lawyers for Tri-County wrote in ...