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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 01d Broad St (Pinners Hall), Ec2N lEN
London, United Kingdom
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From Tazia Smith/db/dbcom@DBAMERICAS
To: "jeffrey epstein" <jeevacation@gmail.com,
Cc: "Vinit Sahni" , "Nay Gupta (DEUTSCHE ASSET MANAG)"
Date 12/01/2014 22:52
Subj Re: RDVSA chart + USOJRY Trade [C]
ect:
Classification: Confidential
Looping in Vinit here as he was recently
involved with a large offering in the pdvsa
credit and may have some take-aways.
My view is the bonds are money good in 2015, as
of now, but you are not looking for yield carry
(as discussed), and the risks of restructuring
and near-term downside due to politics specific
to venezuela and chatter around EM assets at
large are likely greater than implied by the
bonds' current +85 levels; would use Friday's
rally to sell (particularly if you believe it
was rates driven vs credit). For what it's
worth, we've found Latam family offices that are
very familiar the credit (and do like carry) are
fully loaded and do not have incremental demand.
Tazia Smith
Director
Key Client Partners - US
Deutsche Bank Securities, Inc.
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CONFIDENTIAL SDNY_GM_00254196
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