# Profoundd archive — Epstein Files # Bates number: EFTA02623179 # Title: From: Paul Barrett < # Dataset: 11 # Pages: 5 # Images: 5 detected # Tags: epstein, doj, dataset-11, image-described # Source PDF: https://profoundd.com/epstein-docs/EFTA02623179/download # Doc viewer: https://profoundd.com/epstein-docs/EFTA02623179 # # Text below is what Profoundd has extracted from the source PDF. # 'ocr-enriched' tag means OCR was applied to scan-only pages. # Image descriptions are AI-generated factual captions (llava:13b). #---------------------------------------------------------------------- === SUMMARY === 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 === EXTRACTED 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) ; '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) > 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 th Street, 11th Floor, New York, NY 10019 3 EFTA_R1_01831915 EFTA02623181 (o) (c) > 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 th Street, 11th Floor, New York, NY 10019 (o) (c) 4 EFTA_R1_01831916 EFTA02623182 , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 5 EFTA_R1_01831917 EFTA02623183 === IMAGE DESCRIPTIONS === [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