The troubled Texas power company at the center of a record private-equity buyout intends to make debt payments in May that could let it stave off a bankruptcy filing for as long as another 18 months, the Wall Street Journal reported today. The former TXU Corp., now called Energy Future Holdings Corp., plans to pay roughly $270 million in interest due on its bonds May 1, these people said. The Dallas-based company, which employs more than 9,000 people, plans to make the payments partly because its advisers are in talks with creditors on a pre-packaged bankruptcy plan and need more time to negotiate a debt-restructuring deal. In the case of Energy Future Holdings, those negotiations are complicated because the company carries roughly $38 billion in debt and has a complex web of subsidiaries and other corporate entities with varying financial obligations to one another.
