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Enron Mail |
----- Forwarded by Sara Shackleton/HOU/ECT on 12/27/2000 03:46 PM -----
Sara Shackleton 12/27/2000 03:13 PM To: kimberly.r.scardino@us.arthuranderson.com cc: Subject: New Draft of Contract and Equity Forward Restructuring This was received Friday evening. Clint has not seen but we have been discussing this morning. Sara ----- Forwarded by Sara Shackleton/HOU/ECT on 12/27/2000 03:16 PM ----- Christine.Lee@ubsw.com 12/22/2000 07:49 PM To: sara.shackleton@enron.com, Clint.Freeland@enron.com, jeff.nogid@enron.com cc: David.Kelly@ubsw.com, Michael.Collins@ubsw.com Subject: New Draft of Contract and Equity Forward Restructuring Dear Sara, Clint and Jeff: David Kelly reviewed the contract I sent you last night and asked me to make the following additional changes: 1) In Registration Provisions, change in two places "this equity derivatives transaction" to read "this Transaction." 2) Move dividend adjustment language to the "Amendment of the Equity Definitions" section. 3) On page 14, I inserted the necessary ratcheting trigger language that I inadvertently deleted yesterday. The revised document is attached. As Jeff and I agreed today, we are going to restructure the floating rate forward so that it will be a fixed rate forward. We will therefore use the same confirmation for both transactions. We will restructure the forward as of 12/26/00 using $73.6797 as the base price. This price represents the forward price as of 12/12 ($73.5941) plus interest up to 12/26 ($0.2107) less the dividend paid on 12/20 ($0.1251). The rate we will use to calculate the interest on the forward will be interpolated between 3 and 4 month LIBOR set on 12/26 plus 65 basis points. The forward price will be reduced by the expected dividend of $0.125 per share paid around 3/20/01. The maturity of the forward will remain April 12, 2001. I will be on vacation next week but Mike Collins will be able to help you. He can be reached at 203-719-8385. Happy Holidays to you all! Regards, Christine - MARKUP.DOC Visit our website at http://www.ubswarburg.com This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. This message is provided for informational purposes and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments.
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