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Enron Mail |
Bill, See below I thought controlling what was said was better than being left out all toge= ther. Ted -----Original Message----- From: =09Enron Europe General Announcement/ECT@ECT [mailto:IMCEANOTES-Enron= +20Europe+20General+20Announcement_ECT+40ECT@ENRON.com]=20 Sent:=0923 August 2001 09:16 To:=09ECT Asia Pacific@ENRON; ECT Europe@ENRON Subject:=09Newsletter: GlobalFlash!! =20 BUSINESS HIGHLIGHTS EES Europe Clinches Long-Term Outsourcing Deal With Guinness EES Europe has signed a 15-year agreement to own and operate energy assets = at the Park Royal Guinness Brewery in London. The deal means EES will sourc= e gas and electricity to provide steam, compressed air, chilled water and o= ther industrial commodities to one of the largest breweries in Europe. EES = will also have responsibility for managing a series of energy reduction mea= sures at the plant, designed to improve performance and reduce costs. These= measures will include investment in new boiler, refrigeration, compressed = air and effluent treatment plant. Stuart Rexrode, Vice President of EES Europe, said: "Closing this deal was = an outstanding effort by the entire team and is another example of the type= of innovative energy partnerships we are forming in the marketplace. This = transaction, coupled with the Sainsbury's deal, has caused the industry to = start taking notice of EES, and I am confident more customers will be knock= ing on our door looking for similar structures." Congratulations to everyone on the team for their dedication! Enron signs first long-term dry bulk shipping freight origination deal with= major Japanese player Enron's shipping freight team has signed a 10-year time charter deal for a = 178,000 tonne capesize vessel with Lepta Shipping (with a performance guara= ntee from Mitsui & Co Ltd, Tokyo, Japan) The agreement has a notional val= ue of USD60 million and a mark-to-market value of USD 5 million. The new a= greement gives Enron the option to buy the vessel in Japanese yen after the= third year and the time charter period itself can be extended by us by up = to an additional four years, if required. The agreement takes effect from = the latter part of 2003 when the ship itself, currently being manufactured = in the Imabari shipyard in Japan or any similar substitute vessel, becomes = available. "We are already in the process of onselling the first three yea= rs of our time charter above the curve ," announces Pierre Aury, who heads = up Enron's dry bulk freight team. "This deal gives us a strategic long "da= ys" position and we now expect to close further deals as a result of our dr= ive to commoditise more time charter transactions." The team is already ex= ploring new time charter deals in the scarcer cape-size and handy-size vess= el market. A combined effort between the legal, tax, credit, transport sup= port and structuring teams was instrumental in helping to book this deal ju= st in time for Q2. The shipping freight team is already working on a new s= tructured deal with a major UK bank, so watch this space for future announc= ements... Enron Credit Closes Deal with Enron's Shipping Desk On 8 August, 2001 Enron's shipping desk bought a Digital Bankruptcy Swap (= DBS) from Enron Credit in order to buy protection against a Japanese indust= rial/trading counterparty. Under the terms of the deal the shipping desk w= ill receive pay-out from Enron Credit when this counterparty becomes insolv= ent under Japanese laws and therefore hedges the counterparty risk that th= e desk holds when transacting with this Japanese counterparty. When the le= vel of the shipping desk's mark to market profit rises above a certain amou= nt, the desk will also have the ability to buy additional DBS protection. = Similarly, if the desk's contract with the Japanese counterparty terminates= earlier, the desk can sell back any unused DBS cover to Enron Credit. "We needed to increase our credit capacity with this counterparty in order = to do more deals and then realised that Enron Credit could help us," said P= ierre Aury who heads up the freight team. "Another driver was that we felt = we needed to set a foot in the DBS market in order to go up the learning cu= rve and develop shipping specific DBSs for the near future." "The hedge bet= ween these two commercial groups is another milestone in Enron's internal r= isk management. With each commercial group having to optimise its capital = at risk, the services and tools Enron Credit has on offer are an excellent = complement to our already sophisticated RAC process," commented Ted Murphy,= Head of RAC in Europe. Congratulations go to Andrew Feachem who originated the deal for Enron Cred= it and Pierre Aury. Weekly EnronOnline Figures Below are the latest figures for EnronOnline as of August 17, 2001: *=09Total Life to Date Transactions < 1, 320,000 *=09Life to Date Notional Value of Transactions < $760 billion HOUSTON ALL-EMPLOYEE MEETING Please note you will be able to watch the recording of last week's Houston = All-Employee Meeting by accessing WebTV Replay on the following links: Click on http://webtv/ and select Houston All-Employee Meeting where the t= ape will be running continuously or,=20 Click on http://webtv/replay/ and select Houston All-Employee Meeting to vi= ew the tape at your leisure. Alternatively, if you would like a hard copy of the video please contact Tr= acy Ralston in Public Relations on ext 36611.=20 ENRON HOUSE NEW STARTERS A warm welcome to Andrew Groenewald (European Back Office Systems), Christi= an Ochoa (Tax Reporting and Analysis), Richard Henson (Energy Operation), N= ate Blackburn, Posey Martinez, Elizabeth Johnston, George Daniel (Metals), = Gaby Bolton, Sharon Freeman (Documentation & Deal Capture), Steve Davies (R= isk Management), Jonathan Fleming (Benelux & France), Mark Haynes (GPC Liqu= ids Trading), Guy Millington (EnronOnline Marketing), Bianca Tarr (EM Tra= de Accounting), Patrick Cheung (EGM IT), Gareth Ewans (Energy Operations), = Justin Hingorani (Enron Credit Quant), Stuart Ingvorsen (UK Power Analytics= ), Metha Deepak (Global Finance), Michael Baycroft (IT Front Office), Shane= Miller (Market Risk Management), Tom Barlow (EEL Trade Accounting), Suzan= ne Morrison (EM Risk Management), Andrew Barry (EnronOnline Marketing), Tim= Hodgson (HR, A&A), Christina Jordanova Sarastova (Coal Freight Trading), R= iccardo Rimini, Shiraz Rehman (Forest Products), Frank Bokeloh (Steel), Mic= hael Clark, James Govan (Energy Operations), Anna Fox (Legal), Stefan-Joerg= Goebel (Continental Power). QUIZ OF THE WEEK Keyword:=09TRICK Nine synonyms of the above keyword are listed. Take one letter from each t= o find a further synonym of the keyword. The letters appear in the correct= order. Synonyms:=09IMPOSTURE, FEINT, FRAUD, ARTIFICE, DECEIT, TRAP, DODGE, MANOEUV= RE, GIMMICK AND LAST WEEK'S WINNER. . . . . . Congratulations to Maria Abello (HR) who was last week's Quiz of the Week w= inner. The answer to the quiz was Geraldine. A reminder last week's ques= tion is below: Realigned is an anagram of which girl's name? NEWS FROM NORTH AMERICA . . .ENTOUCH BUSINESS HIGHLIGHTS Enron Global Markets Enron Global Markets has entered into a five-year marketing services agreem= ent with Anker Coal Group, Inc. EGM will provide Anker with marketing and = related services for all coal produced from mines owned by the company. An= ker has mining operations in West Virginia, Maryland, and Kentucky. It is = expected that Anker's operations will produce approximately eight million t= ons of coal per year. =20 Also, George McClellan, managing director, Enron Global Markets, and Paul P= izzolato, director of trading, have been elected to the board of directors = of Anker. <Embedded Picture (Metafile)<
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