From: Paul Barrett <

EFTA02623179 Dataset 11 5 pages Download original PDF Download as text
From: Paul Barrett < Sent: Friday, September 14, 2018 6:29 PM To: jeffrey E.; Richard Kahn Subject: RE: Bond idea Jeffrey We bought the bond and hedged the EUR risk back into USD with a forward contract to match the maturity of the bond. Net yield in $ terms of 7.40%. When you get back to NY can we finalize my advisory fee given the new coverage model. Rich is also waiting for your approval on the $25K wire from July. Thanks Paul Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) <mailto EFTA_R1_01831913 EFTA02623179 From: Paul Barrett Sent: Tuesday, September 11, 2018 5:01 PM To: 'jeffrey E.' <[email protected]>; 'Richard Kahn' < Subject: RE: Bond idea Nothing done yet. Hopefully they hit our bid tomorrow. I don't want to chase given what a big impact a slightly higher price has on the yield given the short maturity. Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) <mailto From: Paul Barrett Sent: Monday, September 10, 2018 1:29 PM To: 'jeffrey E.' <[email protected] <mailto:[email protected]»; Richard Kahn < <mailto: Subject: RE: Bond idea Bonds traded up again. Will keep working them. Nothing done yet. Paul Paul Barrett Alpha Group Capital LLC 2 EFTA_R1_01831914 EFTA02623180 142 W 57th Street, 11th Floor, New York, NY 10019 (o) (c) <mailto From: jeffrey E. <[email protected] <mailto:[email protected]» Sent: Friday, September 07, 2.018 11:12 AM To: Paul Barrett < Subject: Re: Bond idea ok On Fri, Sep 7, 2018 at 4:15 PM, Paul Barrett < <mailto wrote: Update: Bonds are trading up 1 point. »; Richard Kahn > > New effective yield is —7.50%. I still like the trade. 7.50% for 11 month paper with ample liquidity beyond the maturity of this bond. Paul Barrett Alpha Group Capital LIC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 3 EFTA_R1_01831915 EFTA02623181 (o) (c) <mailto From: Paul Barrett Sent: Thursday, September 06, 2018 11:10 AM To: 'jeffrey E? <[email protected] <[email protected]» Cc: 'Richard Kahn' < <mailto Subject: Bond idea Hi Jeffrey > > 1. Buy Casino Groupe (French supermarket company with operations in Europe and South America) bonds a. COFP 4.407% maturing Aug 2019 b. Yields 5.25% in EUR and then do a EURUSD cross currency swap into USD. This effectively creates a USD denominated bond yielding —8.60% c. Net leverage of 3.52x d. Rated BB by S&P e. EUR 3bIn market cap f. Notional outstanding on this bond is EUR 674MM. Company had EUR 2.2b1n in cash and EUR 3.1bIn in undrawn credit facilities maturing in 2020-22 g. JPM overweight the credit h. I would do $3MM Paul Paul Barrett Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 (o) (c) 4 EFTA_R1_01831916 EFTA02623182 <mailto please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 5 EFTA_R1_01831917 EFTA02623183

📷 Images in this document (5 detected)

AI-generated factual descriptions of embedded images (llava:13b). These are searchable across the corpus.

[Image 1] The image shows a document with text, which appears to be a financial or business-related report or statement. The document includes a header with a date and a recipient's name, followed by a list of items or points with sub-points. The text is too small to read in detail, but it seems to be discussing financial matters such as interest rates, bond yields, and other economic indicators. The docume [Image 2] The image shows a document with text, which appears to be a letter or an email. The document includes a header with the sender's name and contact information, followed by the recipient's name and contact information. The body of the text contains a message, which seems to be a business-related communication, possibly discussing a project or a transaction. The text is too small to read in detail, b [Image 3] The image shows a document with text, which appears to be a page from a book or a manual. The text is too small to read clearly, but it seems to be a list or a section of instructions or notes. The document is printed on a white page with black text, and there are no visible images, logos, or other distinguishing features that would indicate the type of document or its content. The document is pre [Image 4] The image shows a document with text, which appears to be a confidentiality agreement or a disclaimer. The text is too small to read in detail, but it includes a statement about the confidentiality of information and a disclaimer about the use of the information. The document is a standard letter format with a header and a footer, and there is a visible date at the top right corner, but it is not [Image 5] The image shows a document that appears to be a letter or a note. It contains text that is partially obscured, but it seems to be a formal communication, possibly from a company or an organization to an individual. The visible text includes a salutation, a date, and a closing. The document is addressed to a person named "Richard," and it mentions a specific date and a reference to a "bond." The te