Enron Corp. - University of California | Office of The President

698. In 6/99, CS First Boston acted as underwriter in the Azurix IPO, selling 38.5 million
shares of Azurix stock at $19 per share. Enron sold 19.5 million shares of Azurix stock in this IPO,
getting $370 million in desperately needed new capital.
699. In addition, CS First Boston also acted as underwriter of other Enron-related
securities. For instance:
9/99 Osprey Trust, Osprey, Inc. $1,400,000,000 8.31% Senior Secured
Notes
2/00 Azurix – $440 million and £100 million 10.375% and 10.75% Senior Notes
9/00 Osprey Trust, Osprey I, Inc. $750,000,000 7.797% Senior Secured
Notes; and i315,000,000 6.375% Senior Secured Notes
7/01 Marlin Water Trust II, Marlin Water Capital Corp. II $475,000,000
6.31% Senior Secured Notes; and i515,000,000 6.19% Senior
Secured Notes
700. In addition, CS First Boston acted as advisor to Enron on the sale of Portland General
Electric – a $2 billion dollar deal – and helped Enron dispose of its international asset portfolio in
the second half of 01, a deal involving $5-$7 billion in assets. CS First Boston also advised Enron
on several other merger and acquisition transactions.
701. In addition, during the Class Period, CS First Boston was one of the principal
commercial lending banks to Enron, loaning or helping to syndicate over $4 billion in bank loans
to Enron. For instance, CS First Boston was involved in the following credit facilities for Enron:
DATE TRANSACTION
9/98 $1 billion committed line of credit to back up Enron's commercial
paper
2/99 $567 million loan to finance Dabhol power project
6/00 $500 million line of credit for Enron Investments PLC, an Enron
subsidiary
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