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Kwint Sommer
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Posted - 2008.04.08 06:15:00 -
[1]
Edited by: Kwint Sommer on 08/04/2008 06:28:14
I would like to offer 3B in 60-day bonds. The interest is to be determined by a Dutch Auction.
Why?
There's been such a derth of offerings these last few months and it has really driven interest rates down. I can turn a decent profit on such a small amount with pretty minimal effort so I figured its time to enter the public realm.
Doing what?
Whatever makes me money, I'm not starting a business, just expanding an already thriving and well diversified one. At the moment I make most of my ISK from moon related things but I've been playing the market more and more lately. For the moment that's where this ISK will be going. For those that are concerned I could loose this ISK in speculative activities, (like those FRPB shares I've been buying up) I have substantial assets such as my JF that are not involved in speculative activities and as such I can easily repay 3B regardless of how the investment turns out. Regardless of the profitability of my ventures, the full value of the bond will be repaid.
Security?
You have my word that I will repay the full value of the bond including interest within 60 days of it becoming active. However, I do not plan to issue formal securities for such a small amount.*
Interest Rate:
This will be a Dutch Auction closing at 23:00 EVE-time on Thursday, April 10. Bidding will begin at 14%, minimum increment is .1% and minimum amount is 100M.
To summarize a Dutch Auction: the interest rate starts at 14% (to be paid out at the end of the 60 days) and people will bid lower interest rates with the lowest getting these bonds at the rate he bid.
No shares will be issued, posts in this thread will be your proof of investment. If you want to cash out early you will receive your initial capital plus whatever fraction of the interest you have earned less a 5% early withdrawal fee.
I have full discretion to end the auction early or cancel it as well as to reject any bid for any reason and to extend the auction time.
Happy bidding. 
*To those of you that are really desperate for a secured investment, I'm willing to place 100% security on up to 20B with a trusted 3rd party such as EBANK if you're willing to accept 4% interest paid monthly on a long duration bond. This would be a separate offering from this, please do not post about it in this thread. If you're seriously interested in this, eve-mail me.
 Please visit your user settings to re-enable images.
Purchasing and Shipping Moon Minerals |
Trading Bunnz
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Posted - 2008.04.08 06:33:00 -
[2]
Let me officially start the ball rolling then.
The full 3b @ 14% interest, due and payable per your terms at the end of 60 days.
FRPB Shares in Default |
TomHorn
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Posted - 2008.04.08 06:36:00 -
[3]
lol
Now that was quick
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Roguehalo
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Posted - 2008.04.08 06:54:00 -
[4]
Ok let's get serious here 
300m @ 10%
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.04.08 07:58:00 -
[5]
3b @ 12%
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Ambo
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Posted - 2008.04.08 08:21:00 -
[6]
1b @ 11.5%
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Trader? Investor? Just want to track your finances? Check out EMMA |
Ambo
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Posted - 2008.04.08 08:22:00 -
[7]
Just to be clear - I assume the interest rate is for the whole 60 days. Not per month.
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Trader? Investor? Just want to track your finances? Check out EMMA |
goofballstu
Pwnage Productions
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Posted - 2008.04.08 10:20:00 -
[8]
I will match Ambo - 1bil @ 11.5%
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Jennine Tyler
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Posted - 2008.04.08 10:30:00 -
[9]
will offer the remaining 1bn at 11.5%.
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Kira Star
Science and Trade Institute
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Posted - 2008.04.08 10:40:00 -
[10]
1b @ 11.4%
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Pies
Exanimo Inc
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Posted - 2008.04.08 13:02:00 -
[11]
1bil at 11.4% 
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Tasty... |
Kwint Sommer
Lothian Quay Industries
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Posted - 2008.04.08 15:33:00 -
[12]
 Originally by: Ambo
Just to be clear - I assume the interest rate is for the whole 60 days. Not per month.
Correct.
Purchasing and Shipping Moon Minerals |
Ulstan
Caldari Provisions
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Posted - 2008.04.08 16:11:00 -
[13]
Intriguing idea, Kwint. Don't know as I've seen this done before.
It will certainly be an informative glimpse at just how low an investment people are willing to accept.
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Daallie
Dynasty Corporation
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Posted - 2008.04.08 16:51:00 -
[14]
1B at 11.25%
Dynasty Corporation |
Selene D'Celeste
The D'Celeste Trading Company
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Posted - 2008.04.08 17:17:00 -
[15]
I like where this is going. Excellent idea =)
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Rayai
Pator Tech School
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Posted - 2008.04.08 17:36:00 -
[16]
Edited by: Rayai on 08/04/2008 17:36:38
Just read the interest rate is over the whole 60day period... that makes things a little different...
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.04.08 17:52:00 -
[17]
Yeh 6% was my lowest point and it looks set to go considerably lower. Definetly an interesting way to obtain a loan and make people fight over providing you the lowest interest rate. 
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Asaru Lyra
Lyra Industries Inc.
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Posted - 2008.04.08 19:07:00 -
[18]
Originally by: Kwint Sommer
To summarize a Dutch Auction: the interest rate starts at 14% (to be paid out at the end of the 60 days) and people will bid lower interest rates with the lowest getting these bonds at the rate he bid.
In dutch auction everyone should get the same interest rate. It's a bit unclear whether you meant that everyone gets the interest rate they bid, or the highest rate among the winning bidders?
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Kwint Sommer
Lothian Quay Industries
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Posted - 2008.04.08 19:20:00 -
[19]
Originally by: Asaru Lyra
Originally by: Kwint Sommer
To summarize a Dutch Auction: the interest rate starts at 14% (to be paid out at the end of the 60 days) and people will bid lower interest rates with the lowest getting these bonds at the rate he bid.
In dutch auction everyone should get the same interest rate. It's a bit unclear whether you meant that everyone gets the interest rate they bid, or the highest rate among the winning bidders?
You are correct, in a Dutch auction everyone who's bids are accepted gets the same rate. I will be doing that here. I wanted a nice, simple explanation so I omitted that bit. I didn't think many people would complain when they got a higher than expected rate.
To quote the wikipedia article I linked to,
Quote:
For example, suppose the sponsor of the issuance is seeking to raise $10 billion in ten-year notes with a 5.125% coupon and in aggregate the bids are as follows:
* $1.0 billion at 5.115%
* $2.5 billion at 5.120%
* $3.5 billion at 5.125%
* $4.5 billion at 5.130%
* $3.75 billion at 5.135%
* $2.75 billion at 5.140%
* $1.50 billion at 5.145%
In this example, the Bid-to-Cover Ratio is 1.95, therefore, not every bidder will receive bonds. Bids will be filled from the lowest yield (highest price) until the entire $10 billion has been raised. This auction will clear at a yield of 5.130 percent and all bidders will pay the same amount. In theory, this feature of the Dutch auction format leads to more aggressive bidding as those who in this case bid 5.115% will receive the bonds at the higher yield (lower price) of 5.130%.
Purchasing and Shipping Moon Minerals |
LRN
Ewigkeit
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Posted - 2008.04.08 19:59:00 -
[20]
Edited by: LRN on 08/04/2008 20:06:04
I see there aren't many investors and the potential return isn't that great so... why don't you guys make up your minds and divide the number of available bonds among you while keeping it at 14% return?
Always consider the actual money you will get like this before competing, lowering the return and putting more money into it.
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Roguehalo
RH Ship Brokers
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Posted - 2008.04.08 20:13:00 -
[21]
Originally by: LRN
Edited by: LRN on 08/04/2008 20:12:32
I see there aren't many investors and the potential return isn't that great so... why don't you guys make up your minds and divide the number of available bonds/shares/isk among you while keeping it at 14% return?
Always consider the actual money you will get like this before competing, lowering the return and putting more money into it.
There's no point in blocking more of you funds to obtain the same profit.
Auction rings are illegal
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Asaru Lyra
Lyra Industries Inc.
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Posted - 2008.04.08 20:30:00 -
[22]
300 million at 11%.
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Raskor
Crossflow Enterprises
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Posted - 2008.04.09 02:41:00 -
[23]
I bid 100m at 10%
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Ambo
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Posted - 2008.04.09 05:52:00 -
[24]
Originally by: LRN
Edited by: LRN on 08/04/2008 20:15:54
Edited by: LRN on 08/04/2008 20:12:32
I see there aren't many investors and the potential return isn't that great so... why don't you guys make up your minds and divide the number of available bonds/shares/isk among you while keeping it at 14% return?
Always consider the actual money you will get like this before competing, lowering the return and putting more money into it.
There's no point in blocking more of your funds to obtain the same profit.
Because that's boring and lame.
--------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
LRN
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Posted - 2008.04.09 06:00:00 -
[25]
Edited by: LRN on 09/04/2008 06:04:36
Originally by: Ambo
Originally by: LRN
Edited by: LRN on 08/04/2008 20:15:54
Edited by: LRN on 08/04/2008 20:12:32
I see there aren't many investors and the potential return isn't that great so... why don't you guys make up your minds and divide the number of available bonds/shares/isk among you while keeping it at 14% return?
Always consider the actual money you will get like this before competing, lowering the return and putting more money into it.
There's no point in blocking more of your funds to obtain the same profit.
Because that's boring and lame.
I do not have your money Ambo. For now, maximizing profit is all I cant think about. But I agree with you, it would be killing the fun. 
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Shadarle
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Posted - 2008.04.09 06:12:00 -
[26]
Edited by: Shadarle on 09/04/2008 06:12:10
Originally by: LRN
Edited by: LRN on 09/04/2008 06:04:36
Originally by: Ambo
Originally by: LRN
Edited by: LRN on 08/04/2008 20:15:54
Edited by: LRN on 08/04/2008 20:12:32
I see there aren't many investors and the potential return isn't that great so... why don't you guys make up your minds and divide the number of available bonds/shares/isk among you while keeping it at 14% return?
Always consider the actual money you will get like this before competing, lowering the return and putting more money into it.
There's no point in blocking more of your funds to obtain the same profit.
Because that's boring and lame.
I do not have your money Ambo. For now, maximizing profit is all I cant think about. But I agree with you, it would be killing the fun.
It also wouldn't work.
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MilowFV
Echo Heavy Industries
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Posted - 2008.04.09 10:46:00 -
[27]
if they all divided the bond up between them and post the same interest rate and then I came along and bid below thier rate then one of them will be out of luck or would have to bid below me to get back into the competition, or bid lower then thier partners anyway. |
Roguehalo
Caldari
RH Ship Brokers
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Posted - 2008.04.09 11:58:00 -
[28]
Originally by: Daallie
1B at 11.25%
hmm I think you have to bid 11.2 or 11.3
Read the op again
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Kwint Sommer
Lothian Quay Industries
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Posted - 2008.04.09 19:03:00 -
[29]
Officially:
Originally by: Kwint Sommer
minimum increment is .1%
He dropped by at least .1% so he's within the letter of the law and I can live with quarter-percents. So long as people don't start doing hundredths of a percent I'm fine with it.
Purchasing and Shipping Moon Minerals |
Dreysine
Paratheoanametamystichood
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Posted - 2008.04.09 19:31:00 -
[30]
i bid 1 bil @ 9.9
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