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GE likely to take over Homer City in debt restructuring
16 May 2012
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[edison mission]
[ge efs]
[kiewit]
GE Energy Financial Services is likely to take control of the Homer City coal-fired power plant in exchange for financing the installation of new pollution control equipment. GE already owns the lease equity for the three-unit facility, while Edison Mission Energy is the lessee. Edison, which has already written off its interest in the plant, will give up control of the asset, while bondholders are also likely to share some of the pain from the restructuring of the plant's capital structure.
Edison bought...
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