October 17, 2018 / 9:59 PM / a month ago

FirstEnergy Solutions says $25 mln bank deal advances split from parent

Bankrupt electricity supplier FirstEnergy Solutions Corp said on Tuesday it needs court approval for a $25 million line of credit from Citizens Bank to help advance its plan to separate from parent company FirstEnergy Corp.

The facility agreement will help FirstEnergy Solutions evaluate new deals with vendors and respond to adequate assurance demands that it can pay its bills, the power provider said in a filing in U.S. Bankruptcy Court in Akron, Ohio.

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