These are the conditions of Purchase as published by Charles Fisher and should be noted by any potential seller before wasting their time
Looking For Real Sellers
We are seeking to purchase MTN's as a third tier buyer, discounted between 85-90% .In order to establish a relationship to our mutual best interest, will be happy to provide a formal corporate purchase offer to any private party who makes a credible offering of bank debt instruments which meet our specifications, and would propose an introductory contract of $100B USD.
Please note further, we will not, involve our banking resources in any transaction, for any reason, without understanding what is being offered, the identity of the offering party, and their legal right to make the offer. We suggest that a simple photocopy or "screenshot" of the EUROCLEAR title page will suffice for this purpose. We will respond with either with a EUROCLEAR "Buy Ticket" or a SWIFT transfer (MT103) representing payment in full directly to the registered owner of the offered instruments. At the risk of being pedantic, I will repeat the salient point one more time: bank involvement shall occur only after we have been able to identify the legitimacy of the offer.
Please consider the following two points regarding our ability to purchase privately owned bank debt instruments on the secondary market:
1. We can purchase the instruments only from the actual registered owner, and can take payment instructions only from that party. We require some evidence of ownership before releasing banking information or engaging banking resources. We do not require an invoice, screening codes, bond power, or access to the instruments in any way. All we ask is that the owner bring up the instrument title page on EUROCLEAR and take a "screenshot" or photograph of the data presented. We will accept this as evidence of their legal ownership of the instruments offered for sale. Please note that simply presenting "ISIN" or "CUSIP" registration numbers is not sufficient for this purpose.
2. We purchase under very simple institutional guidelines: provided with evidence of ownership and the legitimacy of the instruments, we will conclude the transaction via EUROCLEAR, issuing a "Buy Ticket" in favor of the owner, or providing the owner with a FEDWIRE or SWIFT transfer (MT103) as payment in full. Regrettably, No other settlement mechanisms ("799", "760", 543", etc.) can be considered and we can not honor any request for such.
If you have a seller that you believe to be legitimate, and who has stated to you, directly and in writing, that they are capable of concluding a transaction such as I have described, we would be delighted to speak with them.
Thank you in advance for your time and attention, as we await your further counsel.
Respectfully,
Charles Fisher
Contact off board please
charles3239157@yahoo.com
PS NO BROKER CHAIN AT ALL...
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1. bonds are issued at par (100) now they are issuing and offering bonds at 98 range do in part to the recent credit crunch.
a example this week Lehman just a major LBO loan Bond, that was issued at a discount of 99.75,banks dont issue bonds at steep discounts like internet brokers think,bonds sell at a premium not a discount.
People are really pissing in the wind if they think they get a bond at unheard of prices. It dont exist.
2. real owners of mtns, all bonds are in street convention format.
3. the banks or security houses are the counterparties.
4. instead of the talk of swifts, buy/sell orders, do you know what a "give up " agreement is .
5 are the two counterparty banks members and have the signed a ISDA Agreement.
Also bonds have a offer period, a trade date and a settlement date, and all that does not happen in 4-8 hours like you all think more like t plus 3. or trade date plus 3 days for the settlement. And only after the compliance has given go ahead for the trade.
All the other stuff is a broker bs.
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If you have the notes and gone this far publish the ISIN number and see how long you have the note. No one comes to an open forum with notes. Sorry but have seen enough of these ludicrous offers being posted.
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It is exactly the ones having no money to buy who are very vocal in this forum. The financial instrument business is for serious people rather for shoppers and scam.
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Brokers are the running engine of business. Without brokers and intermediaries deals are almost impossible. But, it is probably too difficult for you to understand that. If you are a principal why do you not source principals yourself?
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Sorry, but to advertise on a chat board the majority of you will get are brokers with no money just hope for a get rich quick scheme ,fraudsters and shoppers.
Work with a securities house do not need your business and your prices are not genuine. LIke I said to other put them on a screen send me the data off screen and if they are genuine
then not alone would you have me, but without making an offer, the posting bank would be inundated with other banks trying to buy. However I know you cannot produce at these prices, unless they are from B rated banks or lower.
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I will say up front that I do work with a group looking to purchase seasoned instruments I am not very experienced however have found myself in a Great position. If you work with a source that can provide the paper I can put you on the phone with who you need to speak to and get a deal done.
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