EFTA Document EFTA01387155

From: MattGlassmanl Sent: 11/2/2017 5:13: To: Stewart 0ldfield Subject: RE: KCP Structured Finance - Senior/Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at j3%) / 45 Mio. Junior at 19961/Notes 4NC3 - November target close Trying to get approvals to send this out in the US. What. A. Process. From: Stewart Oldfield Sent: Thursday, November 02 2017 1:54 PM To: Matt Glassman Subject: FW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%] / 45 Mio. Junior at 19%) / Notes 4NC3 - November target close Lauren Pressman Brooks Blak Gene Lynch check w/ Tazia Chris Aiken and Greg Bronson colleagues) Greg Marti Paul Barrett check w/ Vahe and Martin Paul Watson and Robert Forsythe (they will refer you to their European From: Andreas Stamm Sent: Wednesday, November 01 2017 4:14 PM To: Matt Glassman ; Matt Sadd O; Clement Jacquesson Cc: Stewart Oldfield Todd Stevens Subject: AW: KCP Structured Finance - Senior/ Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%j / 45 Mio. Junior at (9%] / Notes 4NC3 - November target close There is no formal name approval. The desk trusts on everyone ability to show this to relevant potential investors and not to blast it out to everyone. I would suggest a two way process to call and investors and/or sent teaser simultaneously. And if still interested sent termsheet plus valuation. Takeout financing is only relevant in three years. There are the usual suspects in Germany which are doing this. I doubt they have locked in already by now. But refinancing is obviously one of the key risks in the deal. Andreas Stamm Deutsche Bank AG - Wealth Management - Key Client Partners - phone Von: Matt Glassman Datum Mittwoch. 01. Nov. 2017.8:48 PM , Andreas Stamm < MI>, Clement Jacquesson Cc: Stewart Oldficld . Todd Stevens Betreff: RE: KCP Structured Finance - Senior) Junior Financing of German Real Estate in Stuttgart - Up to EUR 75 Mio Senior at 13%l / 45 Mio. Junior at 19%l / Notes 4NC3 - November target close CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0089302 CONFIDENTIAL SDNY_GM_00235486 EFTA01387155