June 2003
Investment Dealers' Digest;6/16/2003, Vol. 69 Issue 24, p36
Trade Publication
This article presents information related to developments in investment banking in the energy and power resources sector of the U.S. The U.S. Federal Reserve Chairman Alan Greenspan said the ongoing increase in natural gas prices will likely continue. Greenspan, in a Congressional appearance, referenced ongoing bids in the derivatives markets, which predict natural gas prices have a strong chance of reaching $7.50 per million BTUs this year. Mirant Co.'s stock value plummeted lost week after some of the energy company's bondholders filed a lawsuit to derail a planned $1.45 billion debt exchange offer that Mirant needs to avoid filing for bankruptcy. A group of El Paso Corp. dissident shareholders said it might push to reopen El Paso's $1.2 billion settlement with the California state government if it gains power.


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