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Enron Mail |
Thanks - I'm sure glad one of us is thinking!
Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com Stewart Rosman 02/09/2001 12:36 PM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: Re: ISDA/Financial Trades for Washington State PUD's and Muni's The four counterparties are munis. I believe you are referring to the City of Oakland not Portland with respect to the ISDA. Stewart From: Sara Shackleton on 02/09/2001 12:28 PM CST To: Stewart Rosman/HOU/ECT@ECT cc: Stephanie Panus/NA/Enron@Enron Subject: Re: ISDA/Financial Trades for Washington State PUD's and Muni's Stewart: I'd be glad to draft a "sample ISDA" for you and Jeff to use. Please verify that the type of counterparty you are looking at will be a municipal/governmental. On a related matter, we are still waiting to speak with Ed Sachs about the credit rating for the City of Portland and should have the agreement to you afterwards. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com Stewart Rosman 02/09/2001 12:02 PM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: ISDA/Financial Trades for Washington State PUD's and Muni's Sara - Jeff Fuller is interested in pursuing ISDA's with a number of his other customers after a successful experience with Merced Irrigation District. He would like a generic ISDA to start with and hopes to negotiate four ISDA's in the near future. The purpose of the ISDA will be to hedge their price risk once they get a piece of slice (this is a BPA plan to allocate slices of their system to customers). Feel free to call me if you have any questions at 503-464-3810. Stewart ---------------------- Forwarded by Stewart Rosman/HOU/ECT on 02/09/2001 10:45 AM --------------------------- Enron Capital & Trade Resources Corp. From: Jeff Fuller <JFuller@prmllp.com< 02/09/2001 08:06 AM To: "'Stewart Rosman'" <Stewart.Rosman@enron.com< cc: Subject: ISDA/Financial Trades for Washington State PUD's and Muni's Stewart, PRM has 4 utility clients (Benton PUD, Franklin PUD, Grays Harbor PUD and City of Richland) that will be purchasing BPA's Slice product beginning October 1, 2001. I want to get the process started to get ISDA's in place between Enron and these utilities. We are currently in the beginning stages of discussing financial trades with their legal counsel. Fortunately for Enron, I think we can have one attorney represent all 4 of PRM's clients. (FYI, that attorney will be Doug Rosenberg at Preston Gates & Ellis in Seattle.) To get started, I'd like Enron to forward to me copies of the ISDA agreement that you would propose as the starting point for discussions. I also ask that you send me a list/examples of any other documentation Enron will require (e.g., legal opinion, board resolution, etc.). Please send just one set of documentation at this point. I want to get the basic legal review process underway before you prepare four different sets of documents. I'd also like to request that when we get to the point of having Enron's attorney walk through the ISDA with our attorney, that Enron use Sara Shackleton. Sara was great to work with when we went through this for Merced, and I think she'd be extremely helpful once again as we venture into new territory with these 4 utilities. Thanks for your help. Jeff
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