fw : saguaro louise ,
you probably already know this ?
don
- - - - - original message - - - - -
from : calger , christopher f .
sent : tue 11 / 20 / 2001 4 : 46 pm
to : miller , don ( asset mktg )
cc : clark , catherine
subject : re : saguaro
earliest is first week in december , but overall deal is at risk - they are having consent issues due to qf status . basically , this acquisition puts nrg ' s interest up to 65 % ; nsp owns 64 % of nrg but has 90 % of the voting shares . if you count the 64 % ownership , nsp is below 50 % and ok . if you consider the 90 % then nsp is over 50 % and the qf is bust .
our counsel ( labeuf ) didnot see a problem with this , but apparently they are the only firm that will give a good opinion . the bank ' s counsel has set up an informal ferc meeting . if the ferc staffers nod approval - we can get it done . if not , we have a probem . our original solution to this potantial problem was to sell them the loan , but this looks a little difficult for nrg to swallow in light of our now infamous innovative financing structures .
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : miller , don ( asset mktg )
sent : tuesday , november 20 , 2001 2 : 21 pm
to : calger , christopher f .
cc : clark , catherine
subject : saguaro
chris ,
any update on the scheduled closing for saguaro ?
thanks ,
don
fw : saguaro
louise ,
you probably already know this ?
don
- - - - - original message - - - - -
from : calger , christopher f .
sent : tue 11 / 20 / 2001 4 : 46 pm
to : miller , don ( asset mktg )
cc : clark , catherine
subject : re : saguaro
earliest is first week in december , but overall deal is at risk - they are having consent issues due to qf status . basically , this acquisition puts nrg ' s interest up to 65 % ; nsp owns 64 % of nrg but has 90 % of the voting shares . if you count the 64 % ownership , nsp is below 50 % and ok . if you consider the 90 % then nsp is over 50 % and the qf is bust .
our counsel ( labeuf ) didnot see a problem with this , but apparently they are the only firm that will give a good opinion . the bank ' s counsel has set up an informal ferc meeting . if the ferc staffers nod approval - we can get it done . if not , we have a probem . our original solution to this potantial problem was to sell them the loan , but this looks a little difficult for nrg to swallow in light of our now infamous innovative financing structures .
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : miller , don ( asset mktg )
sent : tuesday , november 20 , 2001 2 : 21 pm
to : calger , christopher f .
cc : clark , catherine
subject : saguaro
chris ,
any update on the scheduled closing for saguaro ?
thanks ,
don