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Enron officials were aware, at least a year ago and long before the energy concern filed for bankruptcy protection in December, that its portfolio of foreign assets had lost as much as half of their $6.15 billion book value (Wall Street Journal, 5/6).

The giant electricity generating plant that has stood sentinel over Handley and east Fort Worth now operates under a new owner, Exelon of Philadelphia. The plant, which changed hands this week, will remain a point of reference for Loop 820 commuters and direction-giving Handley residents (Fort Worth Star-Telegram, 5/5).

DTE Energy has pulled out of negotiations with Trans-Elect, the only for-profit independent transmission company in the U.S., to sell its Michigan-based wires unit, International Transmission System Co., says an official close to the negotiations. PFR could not ascertain the reasons behind DTE's decision to nix the sale, but one market official says its unsurprising to see a utility getting cold feet about divesting its wires business, as such assets are so income-generative. Lewis Layton, a DTE spokesman, and Trans-Elect officials did not return calls by press time.

Andy Jacobyansky, Moody's Investors Service's lead analyst covering embattled IPPs Calpine and Mirant, has left the agency, joining Susan Abbott, managing director for the sector, who also recently departed (PFR, 4/22). A Moody's spokesman confirmed Jacobyansky's departure and says interviews are taking place to find a replacement. He declined comment on the reasons for his exit.

The prospects for inside-the-fence power development projects in Mexico have been put in jeopardy by a Mexican Supreme Court's ruling last week limiting the ability of these plants to sell excess capacity to the state. The ruling overturns a decree by President Vicente Fox that would allow private electricity generators to sell up to half of their capacity to state-run utility, the Comision Federal de Electricidad. The court ruling limits sales to the CFE at 20 MW.

Bonds Issue Date Maturity Issuer Amount ($mil) Offer Price Type of Security Coupon (%) Spread to Treas-ury Moody's S&P Bookrunner(s) 04/26/02 12/28/05 Nederlandse Waterschapsbank 200 100.477 Fxd/Straight Bd 4.25 115 Aaa AAA BarCap/RBoC 04/30/02 - KeySpan 400 50 MEDS - - a3 A J.P. Morgan 05/01/02 05/01/12 Oncor Electric Delivery 700 99.783 Fst Mtg Bonds 6.375 137 A3 BBB+ Lehman 05/01/02 05/01/32 Oncor Electric Delivery 500 99.547 Fst Mtg Bonds 7 158 A3 BBB+ Lehman M&A Date Announced Date TargetEffective Target Advisors Target Country Acquiror Name Acquiror Advisors Acquiror Country Value ($mil) 04/26/02 - Genting Sanyen Power - Malaysia Mastika Lagenda - Malaysia 63.120 04/26/02 - Kanto Natural Gas Development - Japan Mitsui Daiwa Securities Japan - 04/26/02 - Kanto Natural Gas Development Daiwa Securities SMBC Japan Tokyo Electric Power Daiwa Securities Japan 15.644 04/26/02 - Sepang Power Sdn Bhd - Malaysia Mastika Lagenda - Malaysia 17.279 04/29/02 - CILCORP (AES) Lehman Brothers U.S. Ameren Goldman Sachs U.S. 1344.938 04/29/02 04/29/02 Edasz - Hungary E.On - Germany - 04/29/02 - Pennichuck - U.S. Philadelphia Suburban - U.S. 78.881 04/30/02 - Cogentrix Goldman Sachs U.S. Aqua Vie Beverage Credit Suisse First Boston U.S. 2627.085 04/30/02 - Edasz - Hungary E.On - Germany 139.038 Source: Thomson Financial Securities Data Company. For more information, call Rich Peterson at (973) 645-9701.

Brooklyn, N.Y.-based KeySpan launched a $400 million offering of equity-linked notes last week to pay down commercial paper and also to strengthen the power player's balance sheet. Ken Daly, an investor relations official, notes KeySpan has a solid single-A rating so it was able to choose the right time to tap the market.

Uruguay's state-run power concern, the Administracion Nacional de Usinas y Transmisiones Electricas, short-listed two European energy concerns late last month to bid for the right to build, own and operate a $300 million 400 MW natural gas-fired plant, dubbed UTE, says a New York project financier familiar with the matter. He notes four developers were pre-qualified to bid, but says only French oil giant TotalFinaElf and Belgian utility Tractebel met the necessary technical requirements to progress to the final round.

InterGen has whittled down the shortlist of banks to arrange the financing for the construction of an 800 MW combined heat and power plant in Rotterdam, the Netherlands to BNP Paribas and Société Générale, according to a banker familiar with its plans.ABN AMRO, Credit Lyonnais and KBC Bank had also been in the running to win the mandate (PFR, 4/15). InterGen's decision to opt for a French lender, rather than a Benelux-based institution, surprised another financier as late last year InterGen hinted strongly that it wanted a domestic bank to lead the transaction (PFR, 9/23). Officials at the shortlisted firms either declined to comment or did not return calls. Calls to InterGen also were not returned.

Columbus, Ohio-based American Electric Power is renewing a $2.5 billion 364-day revolver through lead arrangers Citibank and J.P. Morgan. The facility is currently in the market and the company is looking to have it wrapped toward the end of the month, says spokesman David Hagelin.