Goldman Sachs 2001 Annual Report Goldman Sachs

Letter to Shareholders Core Businesses Business Principles Sept 11 Response Financials Clients www.gs.com

Principle No. 1 Principle No. 2 Principle No. 3 Principle No. 4 Principle No. 5 Principle No. 6 Principle No. 7 Principle No. 8 Principle No. 9 Principle No. 10 Principle No. 11 Principle No. 12 Principle No. 13 Principle No. 14
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Edison International Contends with California Energy Crisis
"At a critical time, Goldman Sachs helped our Mission Energy subsidiary tap the capital markets for $1.2 billion. The Goldman Sachs team worked with us to design a structure that allowed us to issue a bond with a significantly better credit rating and raise the funds we needed. Goldman Sachs was critical as the sole bookrunner on our $800 million bond issue and then further demonstrated its commitment to us by underwriting a $385 million term loan. With the combined proceeds of the bond issue and loan, we were able to resolve our pressing cash needs and subsequently bought the time we needed to work out a longer term approach to the California energy crisis and our creditworthiness with the California Public Utilities Commission."

Ted Craver
Chief Financial Officer
Edison International


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