Bloomberg News

Reliant Terminates Facility With Merrill Lynch, Considers Sale

December 05, 2008

Reliant Energy Inc., the owner of power plants in eight U.S. states, said it ended its $300 million retail working capital facility with Merrill Lynch Capital Corp.

Reliant said it is considering the sale of “all or substantially all” of the company as well as the sale of its retail business.

“We are continuing to pursue longer-term arrangements to unwind our credit-enhanced retail structure with Merrill Lynch,” Mark Jacobs, Reliant’s chief executive officer, said in a statement on Business Wire.

“During this process, we expect Merrill Lynch to continue to perform under the terms of the agreement and believe that we have adequate liquidity to operate our business going forward,” Jacobs said.

To contact the reporter on this story: Charles Siler in San Francisco at csiler@bloomberg.net

To contact the editor responsible for this story: Tony Cox at acox@bloomberg.net


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