BarCap takes on Duke trading book

The investment bank will receive $700 million for its assumption of liabilities, which mainly reflects the amount by which the portfolio is below current market value, as well as certain transaction costs, says Duke. Most of the payment will be offset by the return of net collateral requirements to Duke.

Excluded from the deal are derivative contracts associated with the near-term value of DENA’s west and northeast power-generation assets and some remaining gas transportation and structured

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