Credit Suisse First Boston (CSFB) and Merrill Lynch have picked up more business from TXU, leading a $428m (€431m) share sale for the US energy company whose European arm is in administration.

The two banks are joint bookrunners of TXU's sale of 28 million shares. Last week the two banks were advisers as TXU raised $750m from issuing exchangeable bonds to lower its debt.