Business Services Industry
Reliant Energy Lowers Financial Outlook, Acts to Strengthen Financial Position
Business Wire, Sept 29, 2008
* First Reserve may designate one director to our board so long as it retains 50% of the initial convertible preferred stock or the common stock issued upon conversion.
Each of these financing arrangements is contingent upon, among other things, reaching the definitive agreements with Merrill Lynch regarding the unwind of the credit-enhanced retail structure described in the release. The above descriptions of these financing arrangements are not complete, and the Commitment Letter with GS Loan Partners and the letter agreement with First Reserve are attached as exhibits to the Form 8-K furnished to the Securities and Exchange Commission today.
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