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Enron Mail |
Project OZ
The deal team is proceeding post-haste to draft a definitive term sheet. Bjorn - you're correct - term is now 8 years likely to be 10 $40 million working capital facility - advance rate will exceed market - i.e. a portion of this is really equity crack spreads - will be widened (still fine tuning) Minimum investment case - Morgan Stanley bridge, refinery cash flow to supply capex for Tier 2 upgrades, current volumes After closing, to continue investigating expansion (max capex case) with [option] to hedge larger volumes ( ?- what if we don't agree with expansion plans) RAC draft DASH with deal team's comments expected back this afternoon - will circulate promised model by EOD tomorrow anticipate that deal team will try to get approval delegation at the next BOD meeting (about ten days to get thru RAC process)
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