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Technology Stocks : Softbank Group Corp

SFTBY 63.85

-0.2%

Nov 14 9:30 AM EST

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To: Edwin S. Fujinaka who wrote (5457)	8/8/2000 9:20:44 PM
From: ghengis2	Read Replies (1) of 6020

Have seen but one article suggesting Orix (Oris?) was at all out of sorts re NCB, and then only because the government was considering thinking about renegotiating the bad loan provision. It now appears that risk has passed and there's no further trouble with Orix. The same article mentions Orix's proficiency in asset securitization. As noted earlier, Goldman and other of 9984's partners have developed similar expertese. It probably will come in handy in monetizing NCB's assets, which should happen sooner than later, imo. When it does, I think the NCB deal will swiftly be transformed from what some would call folly into what they all knew was an incredibly shrewd and prescient deal all along. Saw the following re Morgan's asset securitization business tonight. Wednesday, August 9, 2000 Morgan Stanley To Securitize Nonperforming Assets In Japan TOKYO (Nikkei)--Morgan Stanley Dean Witter & Co. Tuesday set the terms for securities backed by nonperforming assets, which its affiliate had purchased from Japanese financial institutions. It offered the first such securities in Japan in November 1999. The firm plans to continue conducting this business in the future due to the growing awareness of these securities among Japanese investors. The 31 billion yen of floating-rate securities will be offered in four tranches rated AAA to BBB. The interest rate on the AAA securities has been set at 30 basis points over the London Interbank Offered Rate. The securitized assets comprise nonperforming loans backed by real estate as well as actual properties purchased by the affiliate from various banks and nonbank financial institutions. Principal and interest will be paid from funds recovered from the auction and voluntary sale of the properties. (The Nikkei Financial Daily Wednesday edition)

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