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Enron Mail |
Please forward this message to Anthony as I am unsure that I have the correct
e-mail address. Anthony, as per my voice-mail I have attached a final structure that works for all parties, and should be relatively simple to execute. I would very much like to discuss structure & docs tomorrow morning. My tel. no. is 713 345 3284 We will transact the pre-pay with a bank as principal, and have the commodity risk hedged by us via another bank ( see diagram) Swap 1: Enron Canada enters into a financial gas swap pre-pay with Royal Bank of Canada/Toronto Dominion Royal Bank of Canada & TD pre-pay C$147.4mm each Enron Canada pays monthly interest (fixed GJ) referenced to AECO calculated off NYMEX March 02 index Swap 2: Royal Bank of Canada/TD enters into a financial gas swap with Chase Manhattan Bank (identical volumes & prices as Swap 1) Chase Manhattan Bank pays fixed volumes of gas @ fixed price Royal Bank of Canada/TD pay monthly interest (fixed GJ) referenced to AECO calculated off NYMEX March 02 index Swap 3: Chase Manhattan Bank enters into a financial gas swap with Enron North America (identical volumes & prices as Swap 1) Enron North America pays fixed volumes of gas @ fixed price Chase Manhattan Bank pays monthly interest (fixed GJ) referenced to AECO calculated off NYMEX March 02 index Internal: internal back to back of Swap 3 to Enron Canada Swap 4: Enron Canada enters into interest rate swap with Royal Bank of Canada/TD Enron Canada pays floating rate monthly Royal Bank of Canada/TD pay fixed interest rate monthly Regards, Soma
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