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Enron Mail |
That explains the Sep trade. No, the confirm they returned does not work
because it does not reference the guarantor. Thanks. Tiffany Williams@ENRON 10/23/2000 03:26 PM To: Tanya Rohauer/HOU/ECT@ECT cc: Subject: Re: Paperboard Industries International Tanya, The May confirmation (NH9975.1) was signed and returned to me on October 19. On this confirmation, the counterparty change the name from (PII) to (PIC). Can we now say that this confirmation is valid? There was a swaption (NZ0399.1) with a trade date of 9/8/00 and an expiration date of 9/13/00 -- that may explain the 9/13 template. However, that swaption was not exercised. Thanks, Tiffany To: Sara Shackleton/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Tiffany Williams/NA/Enron@Enron, Tracy Beardmore/NA/Enron@Enron cc: Subject: Paperboard Industries International I spoke with Louise Paul and she confirmed that they would like to use Paperboard Industries Corporation (PIC) as the contracting entity and would be willing to provide a corporate guaranty from Paperboard Industries International (PII). I am confused as to how many trades actually exist. Per TAGG, there are two (NH9975.1 done on May 12 and Q25809.1 done on October 4); however, in the legal database Susan references a September 13 template sent out which Louise Paul also mentioned. Is this a real deal or was it just a draft? As the May confirm was never signed, I do not know if we will need to actually assign it to the new entity. We need to make sure that all of the confirms reference PIC as the contracting entity with PII as guarantor. All of the credit terms apply; however they will apply to the guarantor now instead of the counterparty. I have also changed the MAC trigger to B+ as PII has been downgraded from BB- to B+. I have attached a new credit worksheet for your reference. If there are any other inconsistencies to the previous documents other than what I have referenced, please let me know. Also, the database mentions the Enron Corp gty that was delivered in conjunction with the May trade. Can you confirm the amount at $15MM as well as send me a copy for my file? Louise has asked that all correspondence be directed to her attention. Please let me know if you have questions. Thanks, Tanya
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