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Enron Mail |
Yes, you are correct. The SLP interest will be hedged at the same levels as
the GP interest. avr Gordon McKillop@ENRON 08/30/2000 03:31 PM To: Andrea V Reed/HOU/ECT@ECT cc: Subject: Raptor Hedges Andrea: I wanted to double check that the interest going into Raptor is ENA's and SLP's interest in JEDI. Please let me know if this is correct. Thanks, Gordon ---------------------- Forwarded by Gordon McKillop/NA/Enron on 08/30/2000 03:22 PM --------------------------- Scott Sefton@ECT 08/30/2000 01:38 PM To: Julia Murray/HOU/ECT@ECT cc: Gordon McKillop/NA/Enron@ENRON, Ryan Siurek/Corp/Enron@ENRON, Trushar Patel/Corp/Enron@Enron, Stuart Zisman/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT Subject: Raptor Hedges I thought I'd communicate to the group some recent developments. 1. Gordon and Ryan advise that the swaps for assets in JEDI 1 and 2 will cover our proportionate economic interest in the asset within JEDI. Gordon believes the spreadsheet of proposed swaps reflects this. The swap will be between Harrier and Talon and there will be no back-to-back swap with JEDI. There should be no required disclosures to CalPERS resulting from these hedges. 2. Gordon and Ryan advise that for assets currently on our balance sheet that are hedged with Raptor and then sold to Condor, there will be no reduction in the hedge or any back-to-back hedge when it moves into Condor. The swap will be between Harrier and Talon. 3. Mark Taylor and Bob Baird have concluded that the swaps can be terminable by Harrier if the underlying security is sold.
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