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Enron Mail |
We have secured an increase in our Standard Chartered credit line of an additional $100,000,000 to accommodate this asset acquisition. This facility will be used as an short term vehicle until we decide what the best long term arrangement might be for us. The bank has confirmed this increase verbally and are in the process of papering the arrangement. The borrowing rate for this additional line is @ LIBOR +1%. The original line of $100,000,000 remains unchanged at LIBOR + .55.
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