Testimony from Dubai

———- Forwarded message ———-
Date: Fri, Feb 25, 2011 at 5:00 AM
Subject: RE: Owosheni Bolanle (Sovereign Bonds)
To: Alicia Bryan
Cc: Owosheni Bolanle

Dear Alicia,


Thank you for your e-mail! It is a great pleasure to have received an e-mail from you and Mr. Joseph P. Tufo, As a matter of fact I have stumbled up on Mr. Joseph P. Tufo’s, blog on the internet and his blogs give a very clear perception / hope that “there are people who are out there to educate and add value to people’s lives through their work and it’s not always about the money”. Please keep up the good work.

I will provide you with a mandate directly from the Govt of the respective country based in the Asian Sub-Continent that authorizes me to look for funds or a loan to fund the below mentioned project, shortly. A broad out-line of the purpose of the funds and bond is as under:

Finance for Infrastructure Projects
Borrower           :  Bank of xxx, (100% State owned)
Purpose             :  To fund Infrastructure
Modality            :  Debt Instrument issue, in the form of Bank of xxx bonds
Quantum           : US$ 2.0 Billion
Tenor                : 15 Years
Interest             :  3% p.a.fixed
Repayment        : Interest – Annually
: Principle – At maturity

Fees                  : 1.5% one- off fee in respect of structuring, legal and administrative expenses.

Let me know if you are in-principle ok with the terms and the country risk. I am aware that it does not fall under the purview of the defined terms in your e-mail but I’m sure that the respective sovereign would be ok with the entering into a trade platform provided the payment is bullet and the bond could be sold down to the platform. See if you would be interested in Sovereign Bonds from the Asian Sub-Continent and if yes please explicitly define the process or work flow to bring this transaction to a closure.

I am a broker in the transaction and I am direct with the respective Sovereign who will issue these bonds.  I am satisfied with the fee structure that you propose however, request you to elaborate on the NCND, IMPA etc that safe guards my interests.


Domnic D’Cruz

Chief Commercial Officer

WTFC Holdings LTD

PO Box 127410, Dubai, UAE


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