Message-ID: <21591560.1075844794945.JavaMail.evans@thyme>
Date: Thu, 10 May 2001 03:23:00 -0700 (PDT)
From: mary.cook@enron.com
To: sara.shackleton@enron.com
Subject: Re: Enron Teeside Operating Limited
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Mary Cook
X-To: Sara Shackleton
X-cc: 
X-bcc: 
X-Folder: \Sara_Shackleton_Dec2000_June2001_2\Notes Folders\Notes inbox
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

You had done the master and it appears restricted.  Could you look at this 
one?  Karolina Moran is preparing a credit worksheet to forward to us.  
Thanks.


Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
----- Forwarded by Mary Cook/HOU/ECT on 05/10/2001 10:22 AM -----

	Rod Nelson
	05/10/2001 09:58 AM
		
		 To: Jorge A Garcia/NA/Enron@ENRON
		 cc: Karolina Moran/LON/ECT@ECT, Mary Cook/HOU/ECT@ECT
		 Subject: Re: Enron Teeside Operating Limited


Karolina in my group will contact Mark.  Karolina investigated the 
transaction and transacting entity to ensure that no CredReserve was 
required.  She will also ensure the documentation is acceptable.

Typically, on deals such as this (financing related) the lender will dictate 
the terms - to avoid subordination or early termination events.

Rod






To: Rod Nelson/LON/ECT@ECT
cc: Laurel Adams/HOU/ECT@ECT 

Subject: Enron Teeside Operating Limited

Good Afternoon Rod,

I wanted to follow up with you regarding Credit Approval for the Interest 
Rate Swap that Aaron Armstrong negotiated on 5/1/01. I spoke with Mary Cook, 
Legal in Houston, and she stated that she requires a Credit Approval Term 
Sheet from you. She said she would be happy to prepare the Master ISDA 
Agreement for us. 

In the event you haven't received the terms of the Interest Rate Swap from 
Aaron, here they are:.

Trade Date: 5/1/01

Effective Date:  1/1/2002 
Maturity Date: 12/31/04

Notional Amount:    GBP 103,180,000.00

Fixed Rate Payer:   Enron North America Corp.
Floating Rate Payer:   Enron Teeside Operating Limited

Fixed Rate:    5.61
Floating Rate Index:   GBP 6 month Libor T3750*1
Index Spread:    0

Structure:    Bullet

Fixed Rate Day Count:   ACT/365
Floating Rate Day Count:  ACT/365

Fixed Rate Payment Frequency:  Semi-Annually
First Payment Date:   6/30/2002
Subject to the "Modified Following Business Day Convention"

Floating Rate Payment Frequency: Semi-Annually
First Payment Date:   6/30/2002
(Subject to the "Modified Following Business Day Convention")

Calculation Method:   Simple

Payment Holidays:    London

Please advise when you have provided Mary with the Credit Approval Term Sheet 
so I can follow up with her for the Master ISDA Agreement.

Mary Cook's direct phone number is 713/345-7732.

Thanks in advance for your assistance in this matter.

Regards,

Jorge