Special Purpose Vehicle

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Special Purpose Vehicle

  1. 1. Special Purpose Vehicle Fractional Interest Trading / International Debt Setoff Currency Appraised Fully Honored Originator Placement of Securitization Redemption Value per £20 Quantity of Bonds Trust Bond into Trust (“SPV”) $10 Million Example Finite Quantity Contracted Discount Bond Pool Example 65% Proceeds from Sale(s) Create Series of Trust Allocation $25,000 Trust Certificates 20,000 Available for Subscription £20 Bonds by Offerees (PRC Debtors Joint Program Including SOE Debtors) Number of $25,000 Trust Certificates Retained 2,800,000 or Carried Interest in Trust Asset Pool Issue Fractional Interest Certificates Trust Certificates Evidencing Separate Undivided Interests in Underlying Bond Pool Advantages PRC Debtors Pool (Offerees) 4 Monetizes Intrinsic Bond Value Manager Secondary Market Trading 4 Preserves Bondholder Claims / Broker International 4 Generates Bondholder Liquidity Debt Setoff Certificates of Beneficial Interest 4 Stimulates Market-Driven Currency Resolution from Trading Activity Inter-Bank Market for Defaulted Sovereign Debt 4 Broadens Stakeholder Base Optional Private Dealers / Financial Institutions 4 Enables Parties Indebted to the Discounted PRC (Including State Owned Cancellation / Luxembourg Exchange-Listing Enterprises) to Subscribe Exchange Extinguishment Fractional Interests in the Bond Listing of Debts Owed PRC Pool and Legally Setoff and Cancel Such Debts at a Discount ® Sovereign Advisers

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