TXU Bankruptcy Proves Bank Loans Are Not Always Best - Presented by: The Aol. On Network

The perceived advantage of bank loans - their seniority in a firm’s capital structure - isn't necessarily playing out with the TXU Energy bankruptcy, says Gershon Distenfeld, Head of High Yield at AllianceBernstein. TXU is an example of how companies with fragile credit profiles have been able to borrow cheaply, dulling their incentive to protect lenders.



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