Message-ID: <32467053.1075854843000.JavaMail.evans@thyme>
Date: Fri, 29 Jun 2001 15:42:48 -0700 (PDT)
From: m..presto@enron.com
To: s..bradford@enron.com
Subject: Duke deal
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Duke has indicated that the cannot complete the proposed commodity/loan transaction with my proposed collateral threshold exemption.   They have indicated that creates "accounting issues" for there accrual book.

Therefore, I need to know the cost of credit to assign to the proposed cash flows.  In rough numbers, we receive $200 million in the first two years and return $250 million in the last two years.

Because of this, in years 03 and 04, our collateral posting will be significant.

Let me know your thoughts ASAP on Monday morning.