CPN: Calpine Corporation Message Board

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Gold/Mining/Energy : CPN: Calpine Corporation

FRO 23.66

-0.3%

Nov 7 9:30 AM EST

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To: ptanner who wrote (239)	1/6/2002 12:19:28 PM
From: Howard R. Hansen	of 555

Thanks for the clear straight forward answer to my question. It seems like whether one thinks the conversion premium and the interest rate is too low or just right will be strongly influenced by whether one thinks Calpine will continue to grow in the future or will stagnate and not by any absolute rules. Personally I think it is a good deal for the note holders. But time may very well prove me wrong.

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