Yes, I think you are right.



	Teresa G Bushman
	07/20/2000 05:09 PM
		 
		 To: Mark Taylor/HOU/ECT@ECT
		 cc: 
		 Subject: Mahonia Prepay Restructuring

Mark:

I believe the reference to the credit annex is to the credit annex to the 
Interest Rate ISDA Master, so I assume you or someone in your group should 
review the amendment.   Am I correct?   I think Chase is drafting the 
amendment.

Teresa

 



Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3812
Houston, TX  77002
(713) 853-7895
fax (713) 646-3393
teresa.g.bushman@enron.com


----- Forwarded by Teresa G Bushman/HOU/ECT on 07/20/2000 05:07 PM -----

	Davis Thames@ENRON COMMUNICATIONS
	07/19/2000 10:37 AM
		 
		 To: Teresa G Bushman/HOU/ECT@ECT, Morris Richard Clark/HOU/ECT@ECT, Cris 
Sherman/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Paige B 
Grumulaitis/HOU/ECT@ECT, Brian Kerrigan/HOU/ECT@ECT, Joseph 
Deffner/HOU/ECT@ECT, Sandra F Brawner/HOU/ECT@ECT, Mary Lynne 
Ruffer/HOU/ECT@ECT, Faith Killen/HOU/ECT@ECT, Earline Kendall/HOU/ECT@ECT, 
Stanley Farmer/Corp/Enron@ENRON, John Griffith/Corp/Enron@ENRON, Clement 
Abrams/Corp/Enron@ENRON, Donna Lowry/HOU/ECT@ECT
		 cc: 
		 Subject: Mahonia Prepay Restructuring

Prepay team;

Here's the latest on the restructurings that we thought we might be doing 
earlier in the week:

Molly and Chase have worked out an arrangement whereby we can post collateral 
under the existing deals without adversely affecting our cash position.  
Therefore a fast-track restructuring will not be needed at this time.  Chase 
and Teresa will negotiate an addendum to the credit annex allowing us to 
re-hypothecate collateral, and Molly is currently working out the operational 
issues associated with doing so.

We still intend to restructure the existing deals over the next few months or 
so; I'll advise as we get closer.

Best-
Davis