Import-export and sourcing Africa, China, South-East Asia, South America and Europe
Looking for buyer of seasoned MTN's at 68+1. MTn's are from Top 5 Western Europen Banks (HSBC, Deutsche, RBS and Commerze), $500M initial tranche contract is for 1T.
Procedure:
1. The buyer issues and delivers a fully signed Letter of Intent to the seller with full banking details, Fee/Commission Protection Agreement for one percent (1.00%) of the instruments face value (covering all intermediaries), Client Evaluation Form, Non-Solicitation Letter.
2. The seller signs and initials the Letter of Intent in acceptance thereof, adds seller’s banking coordinates and returns LOl to buyer, thus establishing a full Commercial Contract between the two (2) parties.
3. Within 24 hours, seller will call or, fax, and email the buyer to confirm the following :
A. That he is ready to proceed and when he will provide Corporate Invoice or Bank Certified Bank Invoice to the buyer via both email and designated fax:
B. Window time for buyer’s banker to contact seller’s banker to validate and verify the Corporate/Bank Certified Invoice and buyer’s banker to confirm buyer’s financial capability, and then both go on the Euroclear/DTC screen for the purpose of closing the first tranche.
C. Note: During this closing call the buyer’s banker and the seller’s banker will determine the mutually acceptable funding/ settlement/payment procedure.
4. Seller and/or seller’s bank issues Corporate Invoice to buyer’s fax number ( ) and also to his email address ( ). The corporate invoice or certified corporate invoice shall include CUSIP/Registration and Custodial Safe Keeping Receipt, issuing bank, date of issue, date of maturity, the text of the bank guarantee, screen access codes, bond power and all necessary information required for authentication and validation, via Euroclear/DTC Bank to Bank Procedures.
5. Buyer’s banker calls seller’s banker for verification and authentication of the invoice and the issuing or custodial bank’s Guarantee of Delivery. They also determine the preferred settlement procedure. Both bankers go on screen together to settle via DTC/Euroclear procedures with electronic simultaneous exchange of funds and instruments.
6. The instrument will initially be delivered by Euroclear/DTC with hard copies of original instruments being delivered as per the buyer and/or his bank’s instruction via bonded courier within seven (7) international banking days.
7. Transaction will be continuous according to the agreed upon tranching schedule and as mentioned above in item 4, 5, & 6.
