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Enron Mail |
Edmund:
Rod Nelson has just informed me that Credit will not be approving Duke Energy Trading & Marketing as a reference entity. I don't think it makes sense to review the various Duke confidentiality agreements at this point. Please let me know if the situation changes. Mark Edmund Cooper 03/03/2000 01:40 PM To: John Metzler/LON/ECT@ECT cc: Mark Taylor/HOU/ECT@ECT Subject: Re: Indicative request to buy There are a variety of CAs with U.S. Duke Energy entities. Mary J. Heinitz has provided me with a list of these which I'll forward to Mark for his consideration under the cover of a separate email. Thanks, Edmund. John Metzler 03/03/2000 02:27 PM To: Edmund Cooper/LON/ECT@ECT cc: Subject: Re: Indicative request to buy Edmund, Please review the CA implications, as stated below. Thanks John ---------------------- Forwarded by John Metzler/LON/ECT on 03/03/2000 14:26 --------------------------- Tomas Valnek 03/03/2000 13:29 To: Martin McDermott/LON/ECT@ECT, John Metzler/LON/ECT@ECT cc: Subject: Re: Indicative request to buy ---------------------- Forwarded by Tomas Valnek/LON/ECT on 03/03/2000 13:30 --------------------------- From: Rod Nelson on 02/03/2000 10:01 CST To: Tomas Valnek/LON/ECT@ECT, Bryan Seyfried/LON/ECT@ECT cc: Paul Simons/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT Subject: Re: Indicative request to buy Unfortunately, it's not quite that simple. Duke Energy Trading & Marketing is a marketing sub and does not prepare separate financials. The S&P rating is based on an implied guaranty from Duke Energy. Legal would also need to review this counterparty from the standpoint of confidentiality agreement violations. Also, as a trading counterparty, Sempra Energy Trading is not authorized for credit derivative trading, because the existing guaranty does not explicitly cover this type of transaction. If Sempra wishes to transact out of this entity, we can look into amending the guaranty to cover this product. This will require legal efforts and approval. Rod Tomas Valnek 03/02/2000 08:36 AM To: William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Paul Simons/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT cc: John Metzler/LON/ECT@ECT, Martin McDermott/LON/ECT@ECT Subject: Indicative request to buy Both of these entities have an E-rating of 3. Any issues? Tomas ---------------------- Forwarded by Tomas Valnek/LON/ECT on 02/03/2000 14:36 --------------------------- John Metzler 01/03/2000 15:41 To: Martin McDermott/LON/ECT@ECT, Tomas Valnek/LON/ECT@ECT cc: Subject: Indicative request to buy Reference Name: Duke Energy Trading & Marketing (sub of Duke energy -- he claims they have their own debt) Counterparty: Sempara Energy Trading Term: 2 years Notional Amount: $2 million (I made that up) John
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