duke situation greg ,
action - please call todd reid at duke
background :
below is the situation with duke and subs :
exposure line cash l / c
duke energy marketing lp / ecc ( $ 43 mm ) $ 10 mm $ 52 . 35 mm $ 20 . 5 mm
duke energy trading & marketing / ena ( $ 56 mm ) $ 5 mm $ 61 mm
duke energy trading & marketing / epmi ( $ 260 mm ) $ 20 mm $ 171 mm $ 100 mm
the expiration of the letters of credit are 11 / 30 / 01 . duke believes that since these l / c ' s have less than 20 days to expiry their value should be zero and are asking for additional cash collateral . our view of the contract is that these l / c ' s are good collateral until expiry and should be counted in our outgoing collateral .
the roll of the letter of credit has been delayed as haedicke / mintz get comfortable with the reps under the l / c facility .
duke credit guys are saying that todd reid has not received a return call from you and this holding up a resolution .
bill and louise
duke situation
greg ,
action - please call todd reid at duke
background :
below is the situation with duke and subs :
exposure line cash l / c
duke energy marketing lp / ecc ( $ 43 mm ) $ 10 mm $ 52 . 35 mm $ 20 . 5 mm
duke energy trading & marketing / ena ( $ 56 mm ) $ 5 mm $ 61 mm
duke energy trading & marketing / epmi ( $ 260 mm ) $ 20 mm $ 171 mm $ 100 mm
the expiration of the letters of credit are 11 / 30 / 01 . duke believes that since these l / c ' s have less than 20 days to expiry their value should be zero and are asking for additional cash collateral . our view of the contract is that these l / c ' s are good collateral until expiry and should be counted in our outgoing collateral .
the roll of the letter of credit has been delayed as haedicke / mintz get comfortable with the reps under the l / c facility .
duke credit guys are saying that todd reid has not received a return call from you and this holding up a resolution .
bill and louise