Westinghouse nuclear plant builder looks at bankruptcy financing, sources say
A report from Reuters Monday said sources told it Westinghouse Electric is taking offers for a financing package to help with U.S. bankruptcy.
Proposals are being considered for a debtor-in-posession loan that could carry the company if bankruptcy is pursued, two sources told Reuters. The financing package is estimated at $500 million.
The funds would allow Toshiba Electric, which owns the General Electric nuclear power plant developer, to continue to pay workers and build four nuclear plants in South Carolina and Georgia.
Read more about the V.C. Summer plant
The company is constructing two nuclear reactors at the V.C. Summer facility in Fairfield County. Westinghouse has said it plans to finish the job. And SCANA, the parent company of SCE&G, said it expects Westinghouse to do just that.
The sources said no decision has been made for Westinghouse to file for bankruptcy and the move should be considered as preparatory.
This story was originally published March 21, 2017 at 10:57 AM with the headline "Westinghouse nuclear plant builder looks at bankruptcy financing, sources say."