use of bridgeline credit louise :
we gave the attached presentation to bridgeline management with respect to using bridgeline credit to support enron transactions . bridgeline was somewhat positive and i have arranged for enron to make a presentation to the full board at our meeting on thursday .
under one of the proposed credit structures , bridgeline would provide a guarantee to an enron counterparty . enron ' s repayment obligation to bridgeline ( in the event of an enron default ) would be secured by our future dividend payments . we used the el paso transport deal that stephanie and linda r . have been working on as a specific example of how this structure would work , and we plan to present this deal at the thursday meeting .
assuming that the bhlp board approves the credit structure , is this how you want to use this credit support ? specifically , is the el paso transport deal how we should use the available capacity or is there another deal that creates more value ( or relieves more pain ) for enron ? i thought i would check before we got too far down the road .
regards ,
brian