- 54 -
Brunswick's adviser regarding Otrabanda in exchange for a fee.
On or about September 5, 1990, Brunswick paid a $250,00 fee to
Merrill Lynch.
By memorandum dated June 19, 1990, den Baas informed ABN's
Risk Management Department that Brunswick was interested in
forming a second partnership. den Baas' memorandum stated in
pertinent part:
although the loan spread will be 30 bps. the
transaction will yield 85 bps. over LIBOR (the
difference to be paid separately). Total remuneration
$600,000 excluding the Trust fee.
The previous deal has been unwound ahead of schedule
and outstandings per June 30, 1990 are $25mm.
Brunswick is in the process of divesting more of its
subsidiaries than originally planned and expects to
generate more capital gains than covered by the first
transaction. Therefore they requested ABN Trust
Curacao to create a new SPC for a second transactions
with the same parameters as before.
We will be brought down from $135mm. within three
months to appr. $20mm. and then to $10mm. before year-
end. The total term of the transaction is anticipated
for one year with a maximum term of 1.5 years.
We are in the process of further syndicating present
outstandings in Willemstad to such a level that this
transaction will not bring us over the agreed upon
level of $2 bln. per June 30, 1990. This transaction
will NOT be put on the books if this attempt is
unsuccessful and by no means will the maximum
outstandings be more than the $2 bln.
* * * * * * *
The calendar for this transaction will look as follows:
Last week of June purchase of the private placements
for a total amount of $150mm.
Page: Previous 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 NextLast modified: May 25, 2011