IPPs and Merchant Energy Co.s Message Board

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Strategies & Market Trends : IPPs and Merchant Energy Co.s

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To: Braincramp who wrote (124)	9/21/2002 11:18:37 PM
From: Oeconomicus	Read Replies (2) of 3358

My understanding is that the cash drawn on the bank line (it had to be drawn to exercise the term-out option) has not been used for anything. The point was to preserve that liquidity for another year by exercising the term-out rather than letting the line expire. BTW, drawing it did not change the "liquidity" figure that the company has been reporting. Undrawn availability and cash from actually drawing it down are the same thing - as long as they haven't spent the cash. Bob

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