|
|
Enron Mail |
Trena,
No P&L impact on unwinding deals, swap and hedge are Back to back Do we have a contact to book the trades on the EDF side when appropriate? Sara Sara, Laurel will request copies of the original confirmations for the swap and hedge and forwad to you Need to coordinate day of unwind on ENA and rebooking by EDF based upon Legal reassignment Rod Please advise whether a credit reserve was taken on this deal. Thanks. Sheila ---------------------- Forwarded by Sheila Glover/HOU/ECT on 07/13/2000 08:19 AM --------------------------- Trena McFarland 07/13/2000 05:48 AM To: Sheila Glover/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT cc: Subject: Everybody Further to the sell-down of Sutton Bridge it looks like the originators are planning, as part of that deal to assign infinity deal number 25556, a currency swap we have with Sutton Bridge to EDF/London Electricity. The hedge for this deal is a back to back deal with Natwest, infinity deal number 25555. My questions are: When this swap was originally entered into there would have been a credit reserve taken for it, which will have to be released. How much is this and what is the process? I am assuming this release of credit will not effect my traders P&L. Can you please confirm this. What else do we need to look at to complete this assignment? What are the legal implications? The originator is looking to do this fairly quickly and so a quick response would be greatly appreciated. Thanks Trena
|