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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.04 23:36:00 -
[1]
Beginning this month, KalBonds will begin to auction debt in a novel approach: The KalBonds Tiered Expansion System.
In this way, I will be declaring a maximum amount raised for each interest rate level. Each offer to buy at any tier much fit into the "space" left in that tier, after counting all the previous offers at that level, and those with a lower rate. Priority is given first to the lowest rate bid for, and then for the earliest bid at that rate. Each tier does not necessarily have the same "limit" to the amount of debt that I would take on.
For example: If there was a bid of 3isk at 3%, 4 isk at 4%, and 5isk at 5%, then there would be 3isk spoken for in the "3% tier level", 7 isk spoken for in the 4% tier level, and 12 isk spoken for in the 5% tier level. Depending on what the debt limit was for each level, a tier might not fill at all, or only partially.
This is for practical reasons. I have far more (and more passive) opportunities available to me at progressively lower and lower interest rates.
In any event, the debt limit for the 3% tier is the upper limit of total debt for the entire auction.
Based on current market activity, and my knowledge of the investment opportunities available to me, the following are the debt limits at each of the following tiers:
KalBonds 3% Series: 10.9B KalBonds 4% Series: 7.9B KalBonds 5% Series: 5.4B
Please note that bids at the 3% or 4% level will be issued KalBonds 3% Series and KalBonds 4% Series notes, as this auction format does not follow the concept of "Clearing Rate" that the previous auctions have used.
This auction will continue until downtime on Thursday, March 10th, 2011, or until the 3% tier has been fully bid for, whichever comes first.
Also, as I'm sure it will soon be stated, Hexxx feels that these are bad investments. Probably Block Ulx too. It is my understanding that their personal feelings are not the official position of Ebank and BSAC, respectively, but I honestly don't care, so I didn't bother to ask.
Vote KALRAND for CSM! |
Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.04 23:37:00 -
[2]
Current Results:
None.
Vote KALRAND for CSM! |
Breaker77
Gallente Reclamation Industries
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Posted - 2011.03.04 23:38:00 -
[3]
I'm starting to group you into the same attention ***** category as VV with you making all these threads about stuff that will happen in the future.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.04 23:43:00 -
[4]
Originally by: Breaker77 I'm starting to group you into the same attention ***** category as VV with you making all these threads about stuff that will happen in the future.
This is happening right now!
Also, the minimum increment at all levels is 100m.
Vote KALRAND for CSM! |
Breaker77
Gallente Reclamation Industries
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Posted - 2011.03.04 23:47:00 -
[5]
Originally by: Kalrand
This is happening right now!
Also, the minimum increment at all levels is 100m.
Sorry, saw the March 10th, which is the end date.
Ahh hell, put me down for 1 bil in the 5% rate.
You're just a goon and it's only 1 bil.
I've ****ed away more ISK on more useless ****.
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Vaerah Vahrokha
Minmatar Vahrokh Consulting
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Posted - 2011.03.04 23:51:00 -
[6]
Originally by: Breaker77 I'm starting to group you into the same attention ***** category as VV with you making all these threads about stuff that will happen in the future.
What would these threads be? Feel free to evemail if you don't want to expand in here. - Auditing & consulting
When looking for investors, please read http://tinyurl.com/n5ys4h + http://tinyurl.com/lrg4oz
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Khanid Voltar
Dark-Rising
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Posted - 2011.03.05 00:10:00 -
[7]
I'd be interested in investing in this but I have a few questions:
1. What is the interest payment frequency, weekly or monthly?
2. Over what period is the loan required?
I have 5B burning a hole in my pocket to invest with you so I look forward to your response.
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Krythas
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Posted - 2011.03.05 00:43:00 -
[8]
I still think it would be nice for you to get your first interest payment off on your first bond before you tried to expand.
The last expansion attempt kinda failed, and so, a week or so later you try again ?
Quite frankly, it wont surprise me if after a week people have completely changed their minds and now throw their ISK at you.
Also, I was extremely disappointed that two shots never followed through with a new pubbies post. Hopefully he will in this thread.
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Caldariftw123
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Posted - 2011.03.05 00:48:00 -
[9]
Pretty sure Kalrand always intended (and made quite clear to many people) to expand, whether right away or in 2 months it's kind of irrelevant isn't it once you know he will expand - you either trust him with that much public isk, or you do not. He's said before he has access to more debt at varying levels of interest, hence the need to sell the bonds in stages so he can stagger the interest amounts to match his ability to maintain the bonds AAA+ credit rating (btw Kalrand I just gave you that AAA+ now)
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 04:20:00 -
[10]
Originally by: Khanid Voltar Edited by: Khanid Voltar on 05/03/2011 00:19:06 I'd be interested in investing in this but I have a few questions:
1. What is the interest payment frequency, weekly or monthly?
2. Is there a set period for the investment and if so what is it?
I have 5B burning a hole in my pocket to invest with you so I look forward to your response.
1. Monthly 2. No.
Please excuse the abbreviated answers. I'm happily ensconced in a bar right now.
Vote KALRAND for CSM! |
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Liberty Eternal
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Posted - 2011.03.05 04:24:00 -
[11]
Originally by: Kalrand KalBonds 3% Series: 10.9B KalBonds 4% Series: 7.9B KalBonds 5% Series: 5.4B
This auction will continue until downtime on Thursday, March 10th, 2011, or until the 3% tier has been fully bid for, whichever comes first.
You're raising 24.2 billion isk
- is this in addition to your current outstanding liabiltities? - what are your current outstanding liabilities? - Did you consult your existing investors before launching this? - what is the purpose of this loan? - will you be getting an audit? - is this entirely unsecured?
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 04:38:00 -
[12]
Edited by: Kalrand on 05/03/2011 04:42:54
Originally by: Liberty Eternal
Originally by: Kalrand KalBonds 3% Series: 10.9B KalBonds 4% Series: 7.9B KalBonds 5% Series: 5.4B
This auction will continue until downtime on Thursday, March 10th, 2011, or until the 3% tier has been fully bid for, whichever comes first.
You're raising 24.2 billion isk
- is this in addition to your current outstanding liabiltities? - what are your current outstanding liabilities? - Did you consult your existing investors before launching this? - what is the purpose of this loan? - will you be getting an audit? - is this entirely unsecured?
10.9 at max, if people want that much at 3%. Theres a sentence in there about that.
1. Yes 2. 5.1b 3. Nope. Expansions have always been discussed and planned. 4. There are far more opportunities available to me. This is to take advantage of those and earn the spread. 5. Can't. I have roles in goonswarm, that I am precluded by alliance rules from revealing what I have access to. (think pos locations, stront amoymts, etc) . Find a join auditor and then sure. 6. Yes.
Vote KALRAND for CSM! |
Liberty Eternal
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Posted - 2011.03.05 04:50:00 -
[13]
Originally by: Kalrand
10.9 at max, if people want that much at 3%. Theres a sentence in there about that.
1. Yes 2. 5.1b 3. Nope. Expansions have always been discussed and planned. 4. There are far more opportunities available to me. This is to take advantage of those and earn the spread. 5. Can't. I have roles in goonswarm, that I am precluded by alliance rules from revealing what I have access to. (think pos locations, stront amoymts, etc) . Find a join auditor and then sure. 6. Yes.
Apologies for misreading the auction amount. So you're planning to boost your debt to a total of 16 billion.
Will you then limit your debt issue or do you plan to raise even more?
There seems to be a large correlation of risks in this issue:
no collateral no audit no clear and distinct business plan no history at all of actual interest payment rapid increase in debt issued debt seemingly permanently locked-in very low interest rates no continuing consultation with investors over their rights
I know you're on a Friday night out, but I hope over the weekend you can make some justification of your business value in the face of what appear to be some classical warning signs
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Rasz Lin
Caldari Caldari Provisions
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Posted - 2011.03.05 05:50:00 -
[14]
I am also interested in investing. My only question is how soon an we expect you to announce it was just a scam? Is this a trust building almost scam IPO or the actual cash out the toon IPO?
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 05:50:00 -
[15]
Originally by: Liberty Eternal
Originally by: Kalrand
10.9 at max, if people want that much at 3%. Theres a sentence in there about that.
1. Yes 2. 5.1b 3. Nope. Expansions have always been discussed and planned. 4. There are far more opportunities available to me. This is to take advantage of those and earn the spread. 5. Can't. I have roles in goonswarm, that I am precluded by alliance rules from revealing what I have access to. (think pos locations, stront amoymts, etc) . Find a join auditor and then sure. 6. Yes.
Apologies for misreading the auction amount. So you're planning to boost your debt to a total of 16 billion.
Will you then limit your debt issue or do you plan to raise even more?
There seems to be a large correlation of risks in this issue:
no collateral no audit no clear and distinct business plan no history at all of actual interest payment rapid increase in debt issued debt seemingly permanently locked-in very low interest rates no continuing consultation with investors over their rights
I know you're on a Friday night out, but I hope over the weekend you can make some justification of your business value in the face of what appear to be some classical warning signs
Yea, I'm not going to touch this until tomorrow. Nyc is awesome on the weekend.
Look, at the end of the day I'm not going to jack your ****. I'm flipping your money since you people like to loan it out crazy cheap and I'm just making ****ing bank by doing jack ****, and flipping it into safe **** from people who actually make a ton of money or need capships and don't like to timecard that much **** in one month.
The tl;dr will have **** like facts. Possibly numbers. And math. Also awesomeness. also block ulx is a ****. Probably hexxxxx too and that other **** from ebank that keeps popping up. **** him too.
Vote KALRAND for CSM! |
Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 05:56:00 -
[16]
Originally by: Rasz Lin I am also interested in investing. My only question is how soon an we expect you to announce it was just a scam? Is this a trust building almost scam IPO or the actual cash out the toon IPO?
Dude. I'm running for CSM and own Kalrand.com. why would I burn this name?
Vote KALRAND for CSM! |
Krythas
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Posted - 2011.03.05 06:26:00 -
[17]
Originally by: Kalrand
Please excuse the abbreviated answers. I'm happily ensconced in a bar right now.
What are you drinking ? I'm about to head out and drown myself in Guinness.
Sorry to see your answers got longer, hope it hasn't destroyed the drinking too much.
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flakeys
The Great cornholio's
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Posted - 2011.03.05 08:23:00 -
[18]
Edited by: flakeys on 05/03/2011 08:24:15
Originally by: Krythas
Originally by: Kalrand
Please excuse the abbreviated answers. I'm happily ensconced in a bar right now.
What are you drinking ? I'm about to head out and drown myself in Guinness.
Sorry to see your answers got longer, hope it hasn't destroyed the drinking too much.
He said NY so probably nothing good if it's beer.He does seem to loose the cool when he drinks though .
Kal get sober THEN reply dude
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 09:59:00 -
[19]
Originally by: flakeys
Kal get sober THEN reply dude
I'm just going to point out that I have smash mouth's version of "I'm a believer" rocking out right now.
Class dismissed.
Vote KALRAND for CSM! |
RAW23
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Posted - 2011.03.05 11:41:00 -
[20]
Apart from the generally terrifying risk profile of this expansion, you have mentioned recently the serious possibility of getting kicked out of Goonswarm for your CSM candidacy and your posting on that subject. Presumably, if that were to happen it would be open season on your loans and the Goons you lent isk to would no longer be under any obligation to repay you (possibly they would even be encouraged not to)? Given that situation this seems like a particularly poor moment to try to raise more isk.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 15:31:00 -
[21]
Originally by: RAW23 Apart from the generally terrifying risk profile of this expansion, you have mentioned recently the serious possibility of getting kicked out of Goonswarm for your CSM candidacy and your posting on that subject. Presumably, if that were to happen it would be open season on your loans and the Goons you lent isk to would no longer be under any obligation to repay you (possibly they would even be encouraged not to)? Given that situation this seems like a particularly poor moment to try to raise more isk.
I've been following the rules, that's not going to happen.
/headache.
Vote KALRAND for CSM! |
Hexxx
Minmatar
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Posted - 2011.03.05 17:52:00 -
[22]
I recommend investors steer clear of this particular investment.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 18:20:00 -
[23]
Originally by: Kalrand
Also, as I'm sure it will soon be stated, Hexxx feels that these are bad investments. Probably Block Ulx too. It is my understanding that their personal feelings are not the official position of Ebank and BSAC, respectively, but I honestly don't care, so I didn't bother to ask.
Originally by: Hexxx I recommend investors steer clear of this particular investment.
Just sayin'.
Vote KALRAND for CSM! |
Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 18:36:00 -
[24]
Originally by: RAW23 generally terrifying risk profile
If I ever need to create another alt corp, this will be the name.
Vote KALRAND for CSM! |
RAW23
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Posted - 2011.03.05 19:17:00 -
[25]
Originally by: Kalrand
Originally by: RAW23 generally terrifying risk profile
If I ever need to create another alt corp, this will be the name.
Put me down for one [GTRP] bond when they come out.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.05 19:54:00 -
[26]
Originally by: Liberty Eternal 1) no collateral 2) no audit 3) no clear and distinct business plan 4) no history at all of actual interest payment 5) rapid increase in debt issued 6) debt seemingly permanently locked-in 7) very low interest rates 8) no continuing consultation with investors over their rights
In order: (Numbering added)
1. Correct
2. Correct
3. Very Very Incorrect:
Originally by: Kalrand
Fine.
In effect I have synthetically created a credit defalt swap on goon investment vehicles for myself. I am getting the spread between the rate the public demands of me, and the goons demand of each other, in exchange for taking the default risk of the goon debt.
Actually with my current level of assets (10-11b or so) and a goon default rate of less than 3%, the current amount of action we have in our private markets, and additional investment opportunities that I could generate by offering "cheap money", I could comfortably do this on the order of somewhere in the neighborhood of 100 billion isk without needlessly exposing myself to a risk of ruin.
Assuming I could: 1) maintain a spread differential of about 3% on average over the whole portfolio. (smaller portfolios would have a higher differential) 2) limited myself to investments of the lesser of 5b isk, or 20% of the portfolio 3) make the assumption that defaults would not be correlated in any sudden way (a justification that I feel comfortable making given the history of goon investments over the "Fall of Delve" period) 4) assume that not all defaults were of the "complete defaults" kind (we do have the ability to work out payment plans in the event of an effective "bankruptcy")
So long as these largely hold true, I could earn about 2 billion a month (7-8B/mo in income, 4-5B/mo in payments, 1B/mo in bad debt [call it three defaults a year]) for doing nothing, and if I work at it (higher differential, less defaults, lower pubic cost of capital) this could be as high as 5b a month.
I could use my personal wealth and retained earnings as a backstop for any "Black Swan" style events, I'll be rolling in isk for doing very little work.
4. Correct
5. Correct
6. Not Correct. As I sell more and more of the lower interest bonds, I'll call the higher interest ones. If these auctions regularly fill, I'll be able to call and issue debt as the loan market ebbs and flows.
7. .... yea? so?
8. Bond investors aren't shareholders. You're right. I don't consult with them.
Vote KALRAND for CSM! |
Kethas Protagonist
Protagonist Ventures
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Posted - 2011.03.06 14:58:00 -
[27]
Originally by: Breaker77 I'm starting to group you into the same attention ***** category
Meh, he may or may not get a thrill out of seeing his own name in print, but informing people early does serve a legitimate purpose in that potential investors may choose to pass on current offerings to save funds for another security later.
On an entirely unrelated note, Protagonist Ventures will be ready for its second offering in the near- to mid-term, at rates beating 5%, without at least some of LE's concerns. Probably not for as much as 16B, though, so make of that what you will.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.06 22:26:00 -
[28]
Originally by: Kethas Protagonist
Originally by: Breaker77 I'm starting to group you into the same attention ***** category
Meh, he may or may not get a thrill out of seeing his own name in print, but informing people early does serve a legitimate purpose in that potential investors may choose to pass on current offerings to save funds for another security later.
Also, the reaction to my announcements allows me to fine tune the eventual offering.
Vote KALRAND for CSM! |
Breaker77
Gallente Reclamation Industries
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Posted - 2011.03.06 22:35:00 -
[29]
Originally by: Kalrand
Also, the reaction to my announcements allows me to fine tune the eventual offering.
You mean a GM locking your thread?
That speaks wonders.
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Kalrand
GoonWaffe Goonswarm Federation
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Posted - 2011.03.06 23:11:00 -
[30]
Originally by: Breaker77
Originally by: Kalrand
Also, the reaction to my announcements allows me to fine tune the eventual offering.
You mean a GM locking your thread?
That speaks wonders.
I think the OP in that thread was just to hilarious for their taste.
Vote KALRAND for CSM! |
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