Message-ID: <2391135.1075849654840.JavaMail.evans@thyme>
Date: Fri, 22 Dec 2000 08:29:00 -0800 (PST)
From: michael.garberding@enron.com
To: mary.ruffer@enron.com
Subject: Mahonia/Stoneville Prepay
Cc: john.griffith@enron.com
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Mary Lynne/John,

Just wanted to follow up on my earlier e-mail.  I re-ran my calculation for 
the Enron Cost of Funds/Deal Cost versus Libor.  The following reconciles 
this calculation:

 Difference between Libor and ENE Cost of Funds    $5,131,161
 Difference between ENE Cost of Funds and Deal Spread (87.5 bps)  $2,491,673

 Total Difference between Deal and Libor     $7,622,834

Sorry for the mistake and again, please let me know if there are any 
questions. Thanks.

Mike


---------------------- Forwarded by Michael Garberding/HOU/ECT on 12/22/2000 
04:16 PM ---------------------------
   
	Enron Global Finance
	
	From:  Michael Garberding                           12/22/2000 02:35 PM
	

To: Mary Lynne Ruffer/HOU/ECT@ECT
cc: John Griffith/Corp/Enron@Enron 
Subject: Mahonia/Stoneville Prepay

Mary Lynne,

Just wanted to updated you on the current prepay that is scheduled to close 
next thursday (28th) with Chase and Fleet.  The prepay is anticipated as 
follows:

Total Funds      $330,000,000
Financing Expenses:
 Upfront to Banks $2,582,500
 Surety Bonds  $2,175,670
  Total Fees         $4,758,170

Anticipated Cash Flow    $325,241,830

The anticipated reserve related to ENE cost of funds versus the prepay is  
estimated to be ($130,501) while the timing differential between delivery 
date and settlement date (55 days) is estimated to be ($2,949,879).  Please 
let me know if you have any questions or need any additional information.  
Thanks again for your help.

Michael
31864