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Strategies & Market Trends : IPPs and Merchant Energy Co.s -- Ignore unavailable to you. Want to Upgrade?

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



To: Braincramp who wrote (124)9/23/2002 12:25:57 AM
From: Raymond Duray  Respond to of 3358
 
Re: This looks to me like a cover up as RAY would say.

I think y'all are doing some really good investigative work here. I'll savor this one from the sidelines. I don't have a dog in this particular fight. ;")

Best of luck, Ray

PS: Maybe this CEO could help explain where $932 MM could disappear to? seattlepi.nwsource.com


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