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.