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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (5012)11/12/2001 4:18:23 PM
From: Logain Ablar  Read Replies (1) of 33421
 
John:

ENE from my understanding in its need for recent financing pledged its prized pipeline assets for the recent loans (I think it was a guarantee for $1B or $2B in loans). This was right after the draw down in the credit line of $3 billion. So selling them DYN would be difficult without the lenders approval.

You can bet the creditors will be helping DYN win approval. I doubt there is much security on the $3B credit line.

Tim

edit - if the deal falls thru the unsecured bonds will not be worth much so I guess the analyst comment is right where one would be better off with the bonds but not by much.
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