All fracked up
6 April 2011
Partly to quiet an agitating hedge fund, KKR and TPG want to rejig a $20 bln loan that funded the record LBO of the Texas power giant in 2007. But pushing maturity from 2014 to 2017 would make repayment a bet on U.S. natural gas prices. That’s a wager lenders needn’t make yet.