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Enron Mail |
Bob: Now there's the real reason! If there are two new softs entities, then
ENA and ECTRIC lose the netting benefits. The tax issues are transparent (it's like the two credit derivative entities). Who is involved from credit? We need to discuss the structures with them because credit may be concerned about the loss of netting privileges. Also, we need to verify that US entity softs trades will be USD based and the European softs entity will settle in Euro or GBP. It seems obvious but a US entity could routinely settle in a currency other than USD. SS 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 ----- Forwarded by Sara Shackleton/HOU/ECT on 02/21/2001 08:27 AM ----- Trena McFarland@ENRON 02/21/2001 08:11 AM To: Robert Bruce/NA/Enron@Enron cc: Jonathan Marsh/EU/Enron@Enron, sara.shackleton@enron.com Subject: Re: Bob Just so you have the answers. Products will be settled in the currency they are traded in....that is USD, Euro or GBP We would intend the new Enron softs entity to be a US entity and that the UK trading would be done through the arranger....EEFT. I am presently looking at another structure, that if it can be done technically then I will go for that. Lets discuss when you are out of your meeting. Trena 212 702 3945
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