I have adjusted a bit the numbers following the ECB, the hair cut would be at 25%, the perpetuals would reach 30%, two series, one bridged for 5 years with interests capitalised, the alternative would be 3 series of 10% of the actual debt, one bridged for 3 years, the second bridged for 5 years, the third kicking in now. The expected capital gains would leave the private investor with a loss under 20%. The EFSF guarantee on the interest payments should allow the paper to reach inv grade, allowing collateral eligibility, and to elect for most of the pension funds of at least the eurozone, inflation+margin interest payments made quarterly or monthly to attract investors allowing the swap beneficiaries (Greek debt holders) to be able to resell easily, just wonder how to pick the market maker?
With these numbers, I ll be the first client. Did u manage to have the Greek budget numbers for a simulation? Does it fit reasonable? How to test in a short period of time the pension funds managers worldwide the taste for a product such as this one? Saving a lot of capital for the EFSF, what's ur evaluation of the guarantee cost and how much capital it may freeze? - m looking to extend it looking at the needs for pensions.