Message-ID: <6940647.1075844485963.JavaMail.evans@thyme> Date: Tue, 26 Sep 2000 02:36:00 -0700 (PDT) From: gordon.mckillop@enron.com To: randy.young@enron.com Subject: Re: URGENT -- Re: Papers for Raptor Meeting Tuesday Cc: scott.sefton@enron.com, sara.shackleton@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: scott.sefton@enron.com, sara.shackleton@enron.com X-From: Gordon McKillop X-To: Randy Young X-cc: Scott Sefton, Sara Shackleton X-bcc: X-Folder: \Sara_Shackleton_Dec2000_June2001_1\Notes Folders\Notes inbox X-Origin: SHACKLETON-S X-FileName: sshackle.nsf To follow up on Scott's message below. The attached proposal sheet has the entity information for the Raptor II structure. The proposal sheet should contain the information that is necessary to support the confirm. The asset description should describe the business or entity. A specific description of the underlying investment and interest in should also be included. Under the detail of the derivative include the type (at the money price return swap, put, call...), term, legal name, specific investment type (type of stock, warrant ...), initial price, initial shares, initial notional value. The valuation support should be attached with the proposal sheet. For this transaction, there is no premium calculation since the swap is at the money. Please provide this information to Sara and me. I will distribute the information to Ryan and Scott. After the confirm is completed, I will submit the information to the counterparty for approval. Please call me if you have any questions. Thanks, Gordon Scott Sefton@ECT 09/26/2000 08:37 AM To: Randy Young/NA/Enron@Enron cc: Gordon McKillop/NA/Enron@ENRON Subject: URGENT -- Re: Papers for Raptor Meeting Tuesday Randy, Hedges in the Raptor structure require that a Proposal Sheet be submitted to the counterparty to the swap (the counterparty is owned by an outside investor and our agreement with them requires this). Attached to Mary's email below is the Raptor Derivative Proposal Sheet that the business unit will need to submit. Gordon is responsible for this process and can answer any questions you have. Also attached below is a Raptor Securities/Confidentiality Response Form that ENA legal prepared to help them conduct a due diligence exercise on their merchant assets being hedged to confirm that there were no contractual or other legal restrictions that may affect their ability to enter into the swap. Although many of the items on this form won't be relevant to what you're hedging, I thought it may be helpful. Because we're not familiar with the assets or any South American legal issues that may apply, we'll be looking to you for confirmation that there aren't any issues in this regard. You can ignore the document entitled Raptor Process for Inclusion of Swaps into Raptor Vehicles. Please call me or Gordon if you have any questions. Thanks! Scott ---------------------- Forwarded by Scott Sefton/HOU/ECT on 09/26/2000 08:19 AM --------------------------- MARY COOK 09/25/2000 06:38 PM To: Scott Sefton/HOU/ECT@ECT cc: Andrea V Reed/HOU/ECT@ECT, Brian Schwertner/NA/Enron@Enron, Hope Vargas/HOU/ECT@ECT, Julia H Chin/NA/Enron@Enron, Lisa Mellencamp/HOU/ECT@ECT, Michael S Galvan/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT Subject: Re: Papers for Raptor Meeting Tuesday We can discuss tomorrow, but the swap group is not staffed either to fulfill the coordination of all the work in respect of the underlying assets. Do you have alternative ideas? Enron North America Corp. Mary Cook 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com Scott Sefton 09/25/2000 06:34 PM To: Mary Cook/HOU/ECT@ECT cc: Lisa Mellencamp/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Andrea V Reed/HOU/ECT@ECT, Julia H Chin/NA/Enron@Enron, Michael S Galvan/HOU/ECT@ECT, Hope Vargas/HOU/ECT@ECT, Brian Schwertner/NA/Enron@Enron Subject: Re: Papers for Raptor Meeting Tuesday Although I'm happy to discuss this at our meeting tomorrow, I don't think the draft process document describes a role for Global Finance legal that we can properly fulfill. MARY COOK 09/25/2000 02:14 PM To: Lisa Mellencamp/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Andrea V Reed/HOU/ECT@ECT, Scott Sefton/HOU/ECT@ECT, Julia H Chin/NA/Enron@Enron, Michael S Galvan/HOU/ECT@ECT, Hope Vargas/HOU/ECT@ECT, Brian Schwertner/NA/Enron@Enron cc: Subject: Papers for Raptor Meeting Tuesday See attached for your review prior to meeting, Tuesday 9:30 38C1. Thanks. Mary Enron North America Corp. Mary Cook 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com