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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (21143)3/31/2003 11:10:42 PM
From: aerosappy  Read Replies (1) of 206326
 
Reliant Resources has scheduled a conference call for Tuesday, April 1, 2003, at 11 a.m. Central Standard Time. Interested parties may listen to a live audio broadcast of the conference call at www.reliantresources.com . The company will be using a slide presentation to facilitate the discussion which can be viewed during the webcast and obtained via the website. A replay of the call can be accessed approximately two hours after the completion of the call.

Summary of $6.2 Billion Financing Package

Facilities:
Revolver $2.1 billion
Term loan 3.8 billion
New credit line 0.3 billion
Total $6.2 billion

Maturities: Revolver and term loan - approximately 4 years (3/15/2007)
New credit line - earlier of Texas Genco purchase or
12/15/2004

Interest Rates: Revolver and term loan - LIBOR + 4 percent
New credit line - LIBOR + 5.5 percent

Upfront Warrants:

2.5% of fully diluted shares. Exercise price based on a 60-day average closing market price beginning 90 calendar days after closing (5-year term).

Term Loan Mandatory Paydown: 2003 - $0
2004 - $0
2005 - $0
2006 - $500 million (5/15/2006)

Term Loan Paydown Targets:
Cumulative If Cumulative Target Not Met:
Date Paydown Target Fees* Warrants**
May 14, 2004 $0.5 billion 0.50% none
May 16, 2005 $1.0 billion 0.75% 2%
May 15, 2006 $2.0 billion 1.00% 2%

One time flat fee on remaining outstanding commitments and term loans on such target date.
Based on percent of fully diluted shares. Exercise price of May 16, 2005 warrants based on 120-day average closing market price beginning 60 calendar days before closing (5-year term). Exercise price of May 15, 2006 warrants based on 60-day average closing market price beginning 180 calendar days after closing (5-year term).
Pre-Authorized Texas Genco Funding Baskets:
Junior Securities at RRI: Unlimited
Potential asset sales: $500 million (will be increased to
$650 million if the sale of the company's
European business is consummated)
Debt or Equity at Texas Genco: Up to 50% of Texas Genco enterprise value

Collateral: All available collateral to be provided, subject to pre-existing limits via collateral pool.

Financial Covenants:
EBITDAR / Interest
Debt / EBITDAR
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