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Reliant Energy Capital Europe has roughly tripled the pricing for the refinancing of a soon-to-mature EUR600 million ($644 million) project loan in an attempt to get the existing lenders to sign on to the new loan in short order.

Houston-based El Paso Corp. intends to offload several U.S. power plants in a bundled package rather than conduct a piecemeal sale of individual assets, but has yet to determine which ones it will put on the block. A New York banker says the recently crystallized strategy should both allow for a speedier cash-raising process and also allow it to mix up some weaker assets with some stronger assets that will be highly sought after.Salomon Smith Barney is leading the sale process.

Following is a directory of upcoming projects and related financing in the Latin American power sector. To report new deals or provide updates, please call Amanda Levin, Reporter, at (212) 224-3292 or email: alevin@iinews.com

Midwest Energy giant Exelon reportedly has entered exclusive talks with Allegheny Energy Supply about acquiring two coal-fired plants in Pennsylvania with a combined capacity of 800 MW. The Hagerstown, Md.-based unregulated energy arm of Allegheny Energy had been in talks with Cinergy and DTE Energy about acquiring Armstrong (356 MW) and Mitchell (442 MW), says a New York banker, adding these talks broke down after they submitted bids below Allegheny's expectations. He was unable to provide specific pricing details, nor was he able to say how close the parties are to concluding a deal.

AIG Energy in Stamford, Conn., has hired Steven Pike, senior v.p.-origination at El Paso Energy in Denver, in a senior origination position. Tony Gordon, executive v.p. and head of global energy, says AIG Energy hopes to complete hiring for its origination group over the next several months and aims to enter wholesale power, gas and oil transactions with energy producers and consumers. Pike did not return calls.

Jonathan Whitehead, an energy marketer at Dynegy in Richmond, U.K., is leaving the embattled energy trader to join EDF Trading in London. Whitehead will head up EDFT's European gas origination effort and will also market U.K. & Nordic power, notes a market watcher familiar with his plans. An EDFT official confirms he will join shortly, but was unable to provide further comment. Calls to Dynegy were not returned by press time.

Lead arrangers Citibank and Mizuho Financial have yet to release $90 million of funds refinancing Electricité de France and Mitsubishi's investment in the 495 MW Altamira Mexican power project, despite closing syndication of the non-recourse loan more than three months ago. Officials close to the matter say concerns over the project's offtake agreement need to be ironed out before funds can be released.

U.K. utilitiesCentrica , Scottish & Southern Energy and Powergen reportedly are considering bids for Lakeland/Roosecote, a 220 MW former Edison Mission Energy plant in northern England that was placed into receivership at the turn of the year by its bank creditors. Administrator KPMG has been charged with liquidating the asset and launched a sale process two weeks back, according to market watchers.

Diligent client marketing is paying off forCredit Suisse First Boston. The firm's unsolicited calls to power companies' treasury departments has landed CSFB at least two lead bond underwriting slots already this year. On Jan. 15 the investment bank led a $300 million offering for Pepco Holdings,Inc. , after a preemptive sales call to Treasurer Tony Kamerick. The prior week an unsolicited call to KeySpan TreasurerMike Taunton, awarded CSFB top billing on a $473 million bond deal for the New York-based utility (PFR, 1/27).

Bonds Issue Date Maturity Issuer Amount ($mil) Offer Price Type of Security Coupon (%) Spread to Benchmark Moody's S&P Book Manager(s) 1/23/03 2/25/08 EnBW International Finance 293.5 100.3 Fxd Bonds 2.25 - A2 A+ Bank Von Ernst 1/24/03 2/20/11 Tractebel 54.2 101.27 Fxd Bonds 4.5 - NR NR ING 1/27/03 2/1/13 Entergy Mississippi(Entergy) 100 99.899 Fst Mtg Bonds 5.15 120 Baa1 BBB+ Bank of New York 1/28/03 2/1/13 Sempra Energy 400 99.658 Notes 6 205 Baa1 A- JPM/SSB M&A Date Announced Date Effective Target Name Target Advisors Target Country Acquiror Name Acquiror Advisors Acquiror Country Deal Value ($m) 1/23/03 - FS Hydro - Italy Investor Group - Italy - 1/23/03 - Hidrocantabrico - Spain Red Electrica de Espana - Spain - 1/23/03 1/23/03 Mobil Gas - U.K. TotalFinaElf Gas & Power - U.K. - 1/24/03 - CE Generation - U.S. TransAlta - Canada 240 1/28/03 - Shenzhen Energy Group UBS Warburg China Huaneng Power Intl - China 289.111 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.