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.
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