LS Power Development Nears $1B Restructuring of Coal Plant: DJ

LS Power Development LLC is in advanced talks over giving up control on the coal-fired Sandy Creek Energy Station in Texas to lenders in an approx. $1 billion debt restructuring, Dow Jones reported, citing people familiar with the matter.

• Possible deal negotiated covers LS Power’s Sandy Creek Energy Associates LP, the controlling stakeholder in the Sandy Creek electric generating plant in Riesel, Texas, which would be turned over to the lenders, the people told DJ
• LS Power has been in negotiations with lenders since last year about restructuring $800m loan and other debt obligations
• If the restructuring deal goes through, ...