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25/02/2009 Promissory notes New Rumasa
Seen the announcements in press of these útimos days, we are going to give our opinion. What the purchaser is doing of these promissory notes is to give a loan to these companies in exchange for an interest of 8%. We do not know nothing else because in the publicity it is not spoken nor of terms, but:
- They are not covered by the Bottom of Guarantee of Deposits because New Rumasa is not a bank.
- They are not guaranteed by New Rumasa, but it emits each individual company what increases the risk.
Following this, it seems to me dangerous that a particular investor invests much in these products by 8% that pay. Only references, General GEC Electric is paying long term 8.91%, Santander STD.PRI a 9.54%. SOn preferred stocks but, that you would prefer, preferred stocks of these companies or promissory notes of Clesa.
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