fw power edison mission energy lines 750 mln loan refinance debt fyi original message jon cartwright mailto jcartwright fi rjf com sent thursday july 26 2001 3 02 pm rjf energy gram e mail subject power edison mission energy lines 750 mln loan refinance debt 2001 07 26 15 30 new york rosemead california july 26 bloomberg edison mission energy subsidiary edison international lining 750 million loan help refinance 1 25 billion maturing bank debt according people close company credit suisse first boston leading transaction held small number banks familiar loan said generating company separate legal entity edison insolvent utility subsidiary southern california edison holding company owns edison mission stock set earlier year protect company assets case utility ends bankruptcy would harder get financing done edison subsidiaries bankruptcy filing southern california edison said jon kyle cartwright senior energy credit analyst raymond james associates inc st petersburg florida edison mission borrowed three bank lines repay bank debt 250 million mid august new loan replace 1 billion bank credit lines company repay oct 10 people said getting financing done probably one reasons socaled filed bankruptcy protection cartwright said negotiating solution southern california edison ran 5 4 billion debts pay soaring wholesale power costs last year state power deregulation laws prohibited company passing costs form higher consumer rates effort conserve cash utility defaulted 930 million notes commercial paper january utility also owes energy providers 1 billion three unsecured creditors file petition put utility involuntary bankruptcy ted craver chief financial officer edison said company believes bankruptcy answer political regulatory problem put utility position continue seek negotiated solution restore utility creditworthiness craver said conference call investors holding defaulted debt southern california edison junk rated edison mission energy lowest investment grade credit ratings bbb standard poor baa 3 moody investors service investment grade edison mission sold 600 million 10 year notes april trading 96 97 cents dollar 92 5 95 cents dollar end june moody based company investment grade ratings fact enough cash flow cover debts assets ought protected case southern california edison either files bankruptcy protection pushed new loans split 364 day three year maturities bankers familiar deal said lottery tickets investments said cartwright buy investing optimism arithmetic good investment strategy bankruptcy remote structure pg e corp parent bankrupt pacific gas electric co also put place protect generating subsidiary assets tested court yet analysts said liz goldenberg new york newsroom 212 893 3940 egoldenberg 2 bloomberg net mark lake 212 893 5989 mlakel bloomberg net reporting terrence flanagan jm story illustration edison subsidiaries debt see eix edison mission energy 9 7 8 percent coupon notes due april 2011 see 281023 ag 6 des company news eix us pcg us news category ni elc ni uti ni nrg ni mmk ni cp ni frn ni mtn ni loans ni synloans ni cor 0 bn jul 26 2001 19 30 gmt