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Enron Mail |
Louise,
You probably already know this? Don -----Original Message----- From: Calger, Christopher F. Sent: Tue 11/20/2001 4:46 PM To: Miller, Don (Asset Mktg) Cc: Clark, Catherine Subject: RE: Saguaro Earliest is first week in December, but overall deal is at risk - they are having consent issues due to QF Status. Basically, this acquisition puts NRG's interest up to 65%; NSP owns 64% of NRG but has 90% of the voting shares. If you count the 64% ownership, NSP is below 50% and OK. If you consider the 90% then NSP is over 50% and the QF is bust. Our counsel (LaBeuf) didnot see a problem with this, but apparently they are the only firm that will give a good opinion. The bank's counsel has set up an informal FERC meeting. If the FERC staffers nod approval - we can get it done. If not, we have a probem. Our original solution to this potantial problem was to sell them the loan, but this looks a little difficult for NRG to swallow in light of our now infamous innovative financing structures. Chris Calger 503-464-3735 -----Original Message----- From: Miller, Don (Asset Mktg) Sent: Tuesday, November 20, 2001 2:21 PM To: Calger, Christopher F. Cc: Clark, Catherine Subject: Saguaro Chris, Any update on the scheduled closing for Saguaro? Thanks, Don
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