Aquilla Muni Deal

Did Chris call you about this? SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/15/99 02:02
PM ---------------------------

From: Chris H Foster 10/15/99 01:53 PM

To: Sandra McDonald/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT
cc: Frank W Vickers/HOU/ECT@ECT
Subject: Aquilla Muni Deal

I spoke to Todd Busby. He said he is trying to set this up as a transaction
where we could directly link the two swaps. It is my understanding that this
would simplify the transaction in that the credit/contracting process would
be fairly straightforward. He said that he needs to get his internal ducks
in a row before he is prepared to take a step forward with us. He will call
me if and when this occurs. So, this might not come to anything. I will
let you know if and when he surfaces so we can decisde what we should do next.

Thanks!!

Chris