QUESTION: I am seeing more and more credit derivatives. The trades originating in Houston are coming from Jeff Kinneman's bond/debt traders but are booked in the name of ECT Investments, Inc. or ENA. I can't be certain if these are backed to EnronCredit.com Limited. In particular, there is a proposed total return bond trade with DLJ International Capital requiring ECT Investments to post collateral. We have no master with this party. Who in Houston credit is looking at credit derivatives? FYI, other credit deals seem to be transacted wtih Deutsche Bank and UBS AG.
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ANS: Credit Derivatives

QUESTION: I am finalizing the negotiation of the ISDA Master Agreement with SITA. You will recall that this is an ECTRIC; master NOT ENA. SITA has (1) requested evidence of EEFT's ability to sign for ECTRIC and (2) confirmation that "EEFT is signing on the basis of their authority under the investment services directive". Would you please provide directly to SITA's lawyers as follows: Susan Hopkinson and Sharon Lewis at Lovells in Paris: susan.hopkinson@lovells.com
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ANS: SITA master agreement with ECTRIC

QUESTION: Mark: Here's the info Size = 500 MW Purchase price = $42 MM (sold to Calpine) Permit status at time of sale = all permits had been obtained One note: while we had gas and electric interconnection agreements ready to execute, Calpine told us not to and they arranged those for themselves. If there's anything else that you need don't hesitate. Happy holidays. Best,
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Pittsburg Deal