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Market Leaks: CHC Shadow Banking

R

Runifyouhaveto

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Ongoing trials with CHC have affected CHC's ability to obtain fresh loans from banks.

A local listed company has emerged as the proxy for CHC and launched a massive bond issue, in which funds raised were channelled to CHC at a similar interest rate (slightly priced higher to include underwriter's placement fees). The leadership of the listed company is a faithful believer of the church.

The underwriter's staff has discovered the deal and confronted the listed company but received no satisfactory reply. The company's independent directors and auditors are rumored to be in the dark to avoid alarming sgx at this stage.
 
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chonburifc

chonburifc

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I am not surprise. Con hee looks like a crook, behaves like a crook. I hope more stinkees gong kias to join chc to help con hee.
 
R

Runifyouhaveto

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chonburifc said:
I am not surprise. Con hee looks like a crook, behaves like a crook. I hope more stinkees gong kias to join chc to help con hee.
Click to expand...

The listed company is making a very risky move; if CHC closes down, they will not recover the money.

The underwriting bank discovered the deal after placing the bonds, don't dare to reveal to public
 
Faker

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The chief of the list company is simply a delusional dumb nut, he thought like that can confirm ticket to heaven. I guess this moron doesn't even give his own parents 1% of the money.
 
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Runifyouhaveto

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LEGEND said:
Why does a fucking church need so much money? :oIo::kma:
Click to expand...

The listed company raised about $100m by paying >7% coupon. A large portion is going to CHC. The deal was closed recently.

Hahaaa, the management of the listed company assumes that the church has triple-As credit rating.
 
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Runifyouhaveto

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Faker said:
The chief of the list company is simply a delusional dumb nut, he thought like that can confirm ticket to heaven. I guess this moron doesn't even give his own parents 1% of the money.
Click to expand...

Satanist bankers are backing the secret deal. Whistleblowers in the underwriting bank were sliented and the bonds were distributed to private/priority banking customers. Due to the >7% coupon, evil RMs went on to provide financing facilities to buyers of this issue (to make extra $$ from bond-related bonds)

We must admit that CHC continues to engage in bond-related deals through proxies, despite fighting a court battle. Their finance team is indeed talented.
 
R

Runifyouhaveto

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Summary:
CHC getting loans from local listedco
Listedco issued debts
Debts distributed to bank clients
Some bank clients purchased with leveraged positions.
(Bond yield >7% superceding the cost of financing 1.8-2.x%)
 
po2wq

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Runifyouhaveto said:
... A local listed company has emerged as the proxy for CHC and launched a massive bond issue, in which funds raised were channelled to CHC at a similar interest rate (slightly priced higher to include underwriter's placement fees) ...
Click to expand...
which local listed coy? ...
 
laksaboy

laksaboy

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LEGEND said:
Why does a fucking church need so much money? :oIo::kma:
Click to expand...

Wealth gospel and prosperity teaching.

Being rich is a sign of being blessed by God. Conversely, if you're poor that means you've been cursed by God.
 
Microsoft

Microsoft

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LEGEND said:
Why does a fucking church need so much money? :oIo::kma:
Click to expand...

De fucking church dun nid...de fucking church ish jus a moni magnet for these bunch of mother fucker sitting up there who live in sentosa cave...dey better pray god dun exist...else all these Cheebye Kia is de first to head straight to hell...:oIo:
 
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scroobal

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A $100m bond issue by a listed company would have to go thru a series of legal and governance toll gates, the entire Board of Directors would have to agree and the financial institution involved in the underwriting and placement and the external lawyers would have to apply the appropriate scrutiny. We talking about a lot of people looking at prosecution and going to jail. A listed property is a whole different ball game.

If there a genuine original need for the bond issue, but the funds were diverted than thats a possibility.

I thought they already raised large loan from a private company last year.

Runifyouhaveto said:
Ongoing trials with CHC have affected CHC's ability to obtain fresh loans from banks.

A local listed company has emerged as the proxy for CHC and launched a massive bond issue, in which funds raised were channelled to CHC at a similar interest rate (slightly priced higher to include underwriter's placement fees). The leadership of the listed company is a faithful believer of the church.

The underwriter's staff has discovered the deal and confronted the listed company but received no satisfactory reply. The company's independent directors and auditors are rumored to be in the dark to avoid alarming sgx at this stage.
Click to expand...
 
R

Runifyouhaveto

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scroobal said:
A $100m bond issue by a listed company would have to go thru a series of legal and governance toll gates, the entire Board of Directors would have to agree and the financial institution involved in the underwriting and placement and the external lawyers would have to apply the appropriate scrutiny. We talking about a lot of people looking at prosecution and going to jail. A listed property is a whole different ball game.

If there a genuine original need for the bond issue, but the funds were diverted than thats a possibility.

I thought they already raised large loan from a private company last year.
Click to expand...

Outstanding. You do understand the mechanics of bonds issuing.

1. The shareholders has pre-approved the issuing of up to $500m (multicurrency mid-term note programme). As such the board can issue the perpetual securities as and when "needed".

2. Certainly, there is no legal case against such practice (being a proxy for CHC) because everything appears to legal, ie I borrowed money to lend you.

3. This is why the underwriters were not aware of the true intention in the first place and decided to silent whistleblowers because they decided not to stir shit (further).


The alarms very triggered because they feared that CHC will eventually walk away with the money. In shadow banking, the listedco would charge a very much higher rate to CHC. However, considering this as a service to the faith, I would say good luck to the shareholders.
 
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