Forwarded by Nav Gupta/db/dbcom on 10/07/2014 17:08
From: vinit
To: jeevacation@gmail.com,
Cc: Paul Morris/c Nav Gupta
Date: 09/07/2014 14:41
Subject: Re: Jeffrey - can we have a quick chat this am ? [C]
classification: confidential
Hi Jeffrey - looping in Nay and Paul. To recap:
we will find a few funds, which we think have best performance characteristic and best fees for u. Loan
Funds better than single loans as u don't need to bother booking single loans and servicing them. If we
do decide to go bespoke best to do it in stage 2.
just giving u broad characteristics of loan funds so that we are on the same page.
1) typical ratings for loans range between single B to BBB, the best loan funds concentrate on first lien
collateralized senior loans
2) have daily NAV and MIM typically (to clarify these funds are not money market funds where price is
par). Redemption liquidity ranges from daily to 90 days depending on fund.
3) spreads still around L + 3%-3.S%, duration close to zero as floating rate product.
4) size we are thinking is 10mm of cash from you, with 70% LTV so total size is 33mm levered right ?
vinit
•
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vinit sahni
Managing Director I Global Head - Professional Client Group & Key Client Partners Capital Markets Group
Deutsche Asset & wealth Management
105/108 old Broad St (Pinners Hall),
EC2N lEN London united Kingdom
Tel.
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Email
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From: "jeffrey E." <jeevacation@gmail.com>
To: vinit sahni/
Date: 09/07/2014 11:59
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 102273
CONFIDENTIAL SDNY_GM_00248457
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