Carryover from old forums: noobs market orders to sabriz adoudel - 15b collateralized loan


(Sabriz Adoudel) #1

Details here:

https://forums.eveonline.com/default.aspx?g=posts&t=520010&find=unread

Summary:

On 19-May-2017 NMO loaned Sabriz Adoudel 15b ISK against collateral of 15000 Garde II and 7200 Light Neutron Blaster II, at a monthly interest rate of 3%

Prior to the interest payment due 19-Jun-2017, a mutual agreement between the parties was reached that NMO would contract half the collateral back to Sabriz at NMO’s convenience (probably before 25-Jun), for the sum of 7950m (7500m principal repayment, 450m interest) and the loan would continue at a balance of 7500m for an indeterminate time.


(Sabriz Adoudel) #2

Update on current status:

19-May: Loan commences, principal value 15 000 000 000
Mid June: Sabriz requests to pay down 7 500 000 000 of the principle in first interest period, plus 450 000 000 interest. NMO agrees to create a contract for 50% of collateral at NMO’s convenience.
26-Jun: Sabriz accepts contract of 50% of collateral for 7 950 000 000.
Current outstanding balance: 7 500 000 000
Next interest payment: 225 000 000 due 19-Jul
Collateral outstanding: 7 500 units Garde II, 3 600 units Light Neutron Blaster II.


(Sabriz Adoudel) #3

Hi NMO.

I’ll pay interest but no principal repayment for the month ending 19-Jul.

225m transferred to the NMO character (3% of outstanding principal of 7500m).

Present intention is to pay off the entire outstanding sum in the next month, subject to change.


(noobs market orders) #4

Im checking in to confirm receipt of last months interest.


(Sabriz Adoudel) #5

Hi NMO

Paying the interest due 19-Aug today (I will be out of state for a bit). Payment made 1847 AEST on 14-Aug.

Interest payment of 0.225b made

It is my present intention to pay the remaining balance in its entirity (including one more month’s interest) before 19-Sep. I reserve the right to change my mind.


(Sabriz Adoudel) #6

Hi NMO

I’m in a position to settle this loan now.

At your convenience, please contract the remaining collateral to me for the sum of 7.725 billion, being 7.5b to repay the loan principal, and 0.225b to pay the interest payment due 19-Sep-2019.


(Art Vandolay) #7

@Sabriz_Adoudel Hiw good did you do minus the interest?


(Sabriz Adoudel) #8

This was intended as a fairly short term loan to cover immediate production opportunities (mostly T2 capital modules). This wasn’t funding my salvage buyup.

Then when I was considering repaying it I had a few other opportunities arise. People selling hundreds of Vexor Navy BPCs, someone that had scammed literally dozens of Machariel BPCs - I just kept finding uses for liquid ISK.

I don’t keep accounting well enough to be sure exactly how well I did from this loan; I’m confident I did quite well though.


(noobs market orders) #9

Contract is up, Thank you and the pleasure was all mine :slight_smile:


(Art Vandolay) #10

@Sabriz_Adoudel Are you considering another offering in the near future?


(Sabriz Adoudel) #11

If the right opportunity presents itself I will. The most likely opportunity is a sharp fall in the price of one of the ships I constantly monitor.

At present I have no plans to request another loan. This may change.


(Sabriz Adoudel) #12

Thank you, contract accepted, this loan is now closed.