TXU Reaffirms Financial Position and LiquidityOctober 08, 2002 by Jeff Shepard
TXU Corp. (Dallas, TX) recently reaffirmed that the company is in a strong financial position and has ample liquidity. The company has $2.6 billion of available liquidity before any financings. The company has no outstanding borrowings on either its $800.0 million of backup bank facilities in North America, or GBP 300 million of bank facilities in Europe, which expire in November 2002.
The company also reaffirms its operating earnings guidance for 2002 ($3.20 to $3.25 per share of common stock) and 2003 ($3.45 to $3.55 per share) that it previously issued. The company has already paid off over $1.5 billion of 2003 maturities this year, which leaves total remaining maturities over the next 12 months of approximately $1.5 billion.