WRT the contract that has "cost of funds" (CoF) plus x for the default interest rate, I am struggling to get a number.  Someone in Deffner's group said he didn't know our CoF but that it will be a ridiculously high number.  I spoke to someone in Corp and he suggested that the contract might address an interest rate in the event of bankruptcy.  What do you think?


Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com