The bank debt associated with the Teco Energy andPanda Energy's Union and Gila Plants has traded in small pieces totaling $15 million in the past few weeks. The name has ticked up approximately 12 points to the 84-86 level during the period and has climbed from 66 in the past month.
The facilities now fall under the Entegra Power Group name. In June the new company was launched and is owned by the banks and funds that own the debt. The Gila River Power Station is located just south of Phoenix, Arizona, and the Union Power Station is located in southern Arkansas. The plants have been in commercial operations since 2003. Mike Schuyler, Entegra's senior v.p. of energy management, did not return calls.