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Update: Vistra Discloses Expected 2016 EBITDA For TXU, 2017 Forecast; Seeking To Raise $1 Billion Under New Term Loan

December 7, 2016

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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott (at) energychoicematters.com

Vistra Energy Corp., in a presentation to investors, disclosed expected TXU Energy performance for 2016 and guidance for 2017.

Vistra listed TXU's estimated 2016 EBITDA as between $825 million and $870 million

For 2017, Vistra estimated TXU EBITDA as between $760 million and $820 million

Both estimates represent an increase in TXU's expected EBITDA versus prior estimates based on TXU's outperformance.

The investor presentation also highlighted what Vistra believes are various competitive advantages held by TXU and discussion of its position in the marketplace, which the company's predecessor previously disclosed in a July presentation (see story here for more details)

Vistra Energy Corp. and Vistra Operations Company, LLC, reported that they are seeking to raise a new $1.0 billion Term Loan B-2 at Vistra Operations. In conjunction with the transaction, Vistra Operations will also upsize its Revolving Credit Facility by $110 million. At closing of the financing, the Credit Facilities will consist of the following:

• $860 million Senior Secured Revolving Credit Facility

• $2,850 million Senior Secured Term Loan B

• $1,000 million Senior Secured Term Loan B-2

• $650 million Senior Secured Funded L/C Facility

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