EFTA01386289.pdf

From: Stewart Oldfield Sent: 11/2/2017 5:30:37 PM To: Matt Glassman Subject: RE: KCP Structured Finance -Senior/Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at (3%1 / 45 Mio. Junior at I9%I / Notes 4NC3 - November target close You seem surprised . . . From: Matt Glassman Sent: Thursday, November 02, 2017 5:14 PM To: Stewart Oldfield Subject: RE: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%] / 45 Mio. Junior at 19%) / Notes 4NC3 - November target close Trying to get approvals to send this out in the US. What. A. Process. From: Stewart Oldfield Sent: Thursday, November 02, 2017 1:54 PM To: Matt Glassman cas Subject: FW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%] / 45 Mio. Junior at 19%] / Notes 4NC3 - November target close Lauren Pressman Brooks Blake Gene Lynch check w/ Tazia Chris Aiken and Greg Bronson (they will refer you to their European colleagues) Greg Martin Paul Barrett — check w/ Vahe and Martin Paul Watson and Robert Forsythe From: Andreas Stamm Sent: Wednesday, November 01, 2017 4:14 PM To: Matt Glassman Matt Sadd Clement Jacquesson Cc: Stewart Oldfield •ce; Todd Stevens •ta• Subject: AW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%] / 45 Mio. Junior at 19%l / Notes 4NC3 - November target close There is no formal name approval. The desk trusts on everyone ability to show this to relevant potential investors and not to blast it out to everyone. I would suggest a two way process to call and investors and/or sent teaser simultaneously. And if still interested sent termsheet plus valuation. Takeout financing is only relevant in three years. There are the usual suspects in Germany which are doing this. I doubt they have locked in already by now. But refinancing is obviously one of the key risks in the deal. Andreas Stamm Deutsche Bank AG - Wealth Management - Key Client Partners • phone CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0087913 CONFIDENTIAL SDNY_GM_00234097 EFTA01386289