|
|
Enron Mail |
Just a head's up on NUI - I'll let you know when I hear from Stacy.
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 04/11/2001 11:16 AM ----- Tanya Rohauer/ENRON@enronXgate 04/11/2001 11:09 AM To: Sara Shackleton/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT cc: Rudwell Johnson/ENRON@enronXgate, Mark Breese/HOU/ECT@ECT Subject: NUI Since NUI Utilites, Inc. is the rated entity, we are no longer requiring the $50MM NUI Corp gty for this transaction. However, the financial swap (which should be 40,000/day total for May-Oct) is being documented under the NUI Energy Brokers, Inc. existing ISDA. Sara has modified to cross default the confirmation to the Credit Agreement. Stacy, please share the language you are using for the Transaciton Agreement to compensate for the Credit Agreement expiry in December with Sara so the financial confirmation can be modified as well. We also need to modify the financial confirmation to state that for this transaction only, NUI must be the Guarantor not NUI Capital. Then we must get a deal specific gty from NUI Utilites to cover this trade - probably $10MM. This all arises because the finc/phys gty we were working on is out the window since NUI Utilities is the rated entity with associated balance sheet and the NUI Corp is not needed. Please advise asap and call with any questions. Thanks, Tanya
|