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Article: TXU Corp. Withdraws Private Debt Offering.
- Article from:
- PR Newswire
- Article date:
- November 10, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TXU Corp. announced today that, despite strong demand, it has withdrawn its private offering of approximately $2 billion of senior notes due to a technicality related to the offering memorandum that was brought to the company's attention after the offering was launched. The issue involves when and how, in a private offering, audited financial statements for prior years should be updated to reflect subsequently sold operations as discontinued operations (such as TXU Gas and TXU Australia). TXU Corp. had anticipated making these updates in its annual report on Form 10-K for the year ended December 31, 2004. TXU Corp. may accelerate the preparation of these updates in a ...
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