Aval Promissory Notes - Help Needed

[captaincapital]

Greetings, I wanted to run a scenario around the board to see if I could get any positive direction or insight.

In the next few months Im planning to start a discounting house, a better term would be forfaiting house, however as a whole this would not be clarified as forfaiting. The discounting house would buy the debt obligations or irrevocably payments, such as Letters of Credit (different formats that Im sure I don't need to go into details on this board for), Promissory Notes and Bills of Exchanges. All obligations would be endorsed by credit worthy banks or entities.

This is where Im looking for direction/insight...

We then want to take the obligation and have securitized Aval Promissory Notes issued. We want the Notes to be securitized and traded on a market. For example I know that a market in London exist, however Im not exactly sure what it is called. If anyone knows, I would love to know. Past that, what Im looking for is the follows;

- A bank, securities house or brokerage that would help us take the original obligation and convert it into securitized format to list. Please remember that this is not forfaiting, as an underlying import/export transaction does not exist, so that route cannot be taken.

I've searched far and wide, but really cannot seem to find someone that can help. This is of course more complicated than going to a Trade Services division of a bank. To give a fair idea of the work involved, the orginal obligation might be for $5m (for example). New APN would be issued an increments of $50k to $100k, assigned a identification then listed.

Any help would be very appreciated.

[congregatio]

hm the solution is pretty easy, however it depends on your jurisdiction, the involved jurisdictions, your status and abilities. In general you just pool the obligations in a dark pool structure and use them to receive a credit enhancement for a structured placement, details depend on varies factors. email at [e-mail]

[captaincapital]

May 14, 2015 10:27:09 GMT 4 congregatio said:

hm the solution is pretty easy, however it depends on your jurisdiction, the involved jurisdictions, your status and abilities. In general you just pool the obligations in a dark pool structure and use them to receive a credit enhancement for a structured placement, details depend on varies factors. email at [e-mail]

Thanks and will email you.

In regards to the Jurisdiction, the receiver of the obligations would must likely be BVI formed. In terms of the jurisdictions of the obligations, they would be from all over the world, however with a focus on Asia (China, Hong Kong, Korea, Vietnam, Singapore).

For your structured placement suggestion it is something I have toyed with in basic capacity, however to be clear we would rather not hold the obligations for a long period (at least my first thoughts). To do a private placement, I imagine we are at minimum going to hold the obligations for 90 days, then to include CE cost and issuance cost of the placement thats really going to eat into profits.

[Sapphire Capital]

not necessarily hold, just structure a revolving dark collateral pool with a trust admin

[cml1234]

Hey Captain,
Just curious if you ever were able to set this up?