EFTA00706689.pdf

From: Eileen Alexanderson < To: Jeffrey Epstein <jeevacation(u:igmail.com> Subject: banks Date: Fri, 09 Aug 2013 21:25:30 +0000 Spoke to Justin Nelson yesterday. He said they typical) don't lend on private units like AOG units but they might for Leon. Said they have done loans in the $300-400 range but not at the $lbil level. Re pricing-150-250 bps over LIBOR (this compares with present B of A line at 125 over and DB quote 175-200 over) for 1- 2 yrs. Typically 50% advance on art. No term sheet until they see Leon's financials 2-3 weeks turnaround for due diligence to get to term sheet John Duffy, head of JPM Private Bank,apparently gave the team that normally covers me a heads upon my contact with Justin and my coverage person called this mom with his lender who services the financial sponsor group which allowed for a bit more detail. Comments are as follows: Would like art better than partnership interests as collateral -Can give a longer term using art ie 5-7 yrs possibly -No cleanup required as with unsecured line -can make it a revolver $400-500 mil level is comfortable $500mi1 is a big # for any bank Higher than that - would suggest using JPM as an agent and then syndicating. If money was only needed for 3mos JPM can hold and then if not repaid syndicate at that point (doubt we would want to do this) He said JPM has a program with Apollo senior employees in which they will lend 70% of the value of certain PE funds for 7yrs, interest only that can be locked in at L + 200 bps He was pretty conversant on the AOG units, understands the challenge attached to using them or other PE interests especially if inside the FLP. But since he also made reference to unsecured possibilities, I asked if they would be willing to extend credit based on the expected cashflow from the LP interests. He said 'possibly'. But probably in conjunction with 'Leon's balance sheet'. No term sheet until they see Leon's net worth statement. JPM is and always has been hungry for a personal relationship with Leon but this will be easier to do with DB and we are further down the road with them. Best, E. Eileen Alexanderson Black Family Partners.. do Apollo Management ema This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC EFTA00706689 EFTA00706690