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

instance:
5/00 $500 million 8.375% Enron notes due 2005
2/00 $1.9 billion Enron zero coupon convertible notes
777. In addition, Bank America acted as underwriter of other Enron-related securities. For
DATE SECURITY
12/98 $175 million 6% Enron Oil & Gas notes
7/99 27 million common shares Enron Oil & Gas at $20.25 per share
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
778. Bank America also acted as a lead underwriter in the Azurix IPO on 10/4/00, selling
38.5 million shares at $19, generating $370 million in fresh capital for Enron, which sold at least
19.5 million shares of Azurix stock in that IPO.
779. During the Class Period, Bank America was one of the principal commercial lending
banks to Enron, acting with CitiGroup and JP Morgan on Enron's main credit facilities, participating
in over $4 billion in loans and credit facilities to Enron or Enron-related entities. For instance:
DATE TRANSACTION
9/98 $1 billion Enron credit facility to back up Enron commercial paper
7/01 $582 million project credit facility
8/01 $3 billion Enron credit facility to back up Enron commercial paper
6/02 $457 million loan to finance Dabhol power plant
780. Bank America was willing to engage and participate in the ongoing fraudulent scheme
because such participation created enormous profits for Bank America as long as the Enron scheme
continued in operation – something that Bank America was in a unique position to help occur.
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