Message-ID: <6015182.1075844458707.JavaMail.evans@thyme>
Date: Thu, 13 Jul 2000 04:48:00 -0700 (PDT)
From: trena.mcfarland@enron.com
To: sheila.glover@enron.com, rod.nelson@enron.com, sara.shackleton@enron.com
Subject: 
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X-From: Trena McFarland
X-To: Sheila Glover, Rod Nelson, Sara Shackleton
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Everybody

Further to the sell-down of Sutton Bridge it looks like the originators are 
planning, as part of that deal to assign infinity deal number 25556, a 
currency swap we have with Sutton Bridge to EDF/London Electricity.  The 
hedge for this deal is a back to back deal with Natwest, infinity deal number 
25555.

My questions are:
When this swap was originally entered into there would have been a credit 
reserve taken for it, which will have to be released.  How much is this and 
what is the process?  I am assuming this release of credit will not effect my 
traders P&L.  Can you please confirm this.

What else do we need to look at to complete this assignment?  What are the 
legal implications?


The originator is looking to do this fairly quickly and so a quick response 
would be greatly appreciated.


Thanks
Trena