My 1999

"You set the time, and we'll arrange it."

"Then tonight."

"No problem. How about a club on Fifth Avenue? You should know where it is."

"Okay."

After setting the time to meet and chatting briefly, the other party hung up the phone.

"Is it the CEO of Morgan Stanley?"

Lv Hui asked.

"Yeah."

"Why is he so eager to call you?"

"How can I not be eager to make money?" Xu Liang sneered.

The only thing that can attract these guys is profit.

And what he has in his hand now, which can attract Morgan Stanley and Goldman Sachs, is the debt of up to 14 billion euros owed by Christina Investments to acquire Vivendi Group.

He borrowed the money from Standard Chartered Bank with 15% of the shares of Amazon and Apple held by Hongyan Fund, and then re-lent it to Christina Investments.

Why didn't Standard Chartered Bank lend directly to Christina Investments?

It's very simple.

The latter does not have too many assets to be mortgaged. If it is forced to borrow, it will be leverage.

In an era when the Federal Reserve continues to raise interest rates and the cost of loans is getting higher and higher.

The interest rate of Christina Investment Company will reach 11%, and this is for Xu Liang's sake, otherwise it will definitely exceed 15%.

If you don't believe it, just look at the Glazer family's acquisition of Manchester United.

Skinned and pulled out, working for capital all your life.

Moreover, he holds less than 50% of the shares of Standard Chartered Bank and 100% of Vivendi Group.

He is not so noble to use Vivendi's income to create income for half of Standard Chartered's people.

So it can only be Hongyan or Hanhua.

Finally.

In order to reduce risks, Standard Chartered cannot take all the 14 billion euros of loans.

Generally, such large-scale loan projects are combined by several banks to form a banking group.

Although this makes less money, it also shares the risk.

Xu Liang obviously can't wait to raise funds so slowly.

Direct loan.

Because there is sufficient collateral.

The interest rate of his loan from Standard Chartered is only 7.2%.

But the interest rate of the loan to Christina Investment Company is 16.7%.

They are all his companies, why are the interest rates so high?

Of course there are some reasons.

Generally speaking, after a company makes money, it first pays employees' salaries, bonuses and various insurances, and then uses it to pay loans and interest. The remaining part is the tax base for taxation.

The remaining part after taxation is the company's net profit.

Some of the world's giant companies have a total annual revenue of tens of billions of dollars, but the annual interest is only 500 million or 600 million US dollars, not even 10%.

Why is it so low?

Is it because the cost is too high or the labor is too expensive?

In fact, neither.

In the final analysis, it comes down to four words - reasonable tax avoidance.

In order to avoid corporate income tax as high as 35% or even higher.

Companies actively expand assets and businesses through borrowing, so that a large part of the annual income is used to repay loans and interest.

The tax base for taxation is compressed.

Net profit is less.

Xu Liang's high interest rate is that Vidiwang and Veolia reasonably avoid taxes while seeking benefits for themselves.

With a 9.5% interest rate spread, the corporate income tax that should have been paid to the French government is reasonably withdrawn.

However, this 9.5% interest rate spread obviously cannot satisfy Xu Liang's appetite.

So he planned to sell the 14 billion euro loan in asset-backed bonds.

Securities trading must be rated first.

High-rated bonds naturally have lower agency fees and are more popular.

In order to improve the rating.

Xu Liang plans to bring in Hanhua and Hongmeng to guarantee this loan.

Hanhua and Hongmeng have the highest credit lines among major banks in the world, and their bonds are also 3A rated.

With their endorsement, the rating of this bond will not be low.

Morgan Stanley and Goldman Sachs are eyeing the sale of this huge bond.

Even if the agency fee is only 1%, the return on 14 billion euros is 140 million euros.

Don't think it's too little.

There are many buyers of high-rated bonds. Pension funds, university investment funds, and sovereign funds control huge amounts of wealth. They will never have too much for such bonds with stable returns.

More importantly, investment banks always make money on both ends of the transaction.

Xu Liang takes 1% on his side and he can charge 2% on the buyer's side.

The return doubled in an instant.

420 million euros, more than 500 million US dollars.

It's so sweet to make so much money on a single transaction.

——

No. 1329 Fifth Avenue, New York, is a five-story, Baroque marble building.

From its slightly mottled exterior wall, it can be seen that this place has existed for a long time.

Ordinary people passing by here can't see the sign with its name.

They don't know that this ordinary-looking building is one of the top clubs in the United States, especially in the upper class of New York.

Its founder can be traced back to the top tycoon of the Morgan family, John Pierpont Morgan, who is known as the "world creditor".

Later, this place went through several twists and turns and gradually fell into the hands of the Hughes family.

That's right, it was the Hughes family that gave birth to Howard Hughes.

Speaking of which, the person Xu Liang envied the most was this guy.

Even the prototype of Marvel's Iron Man was him.

A talented madman.

In order to make movies, he established the world's largest private jet fleet, using more than 80 fighter planes, 135 pilots with combat experience, and hired nearly half of Hollywood's photographers.

In the end, the box office was a huge hit, reaching 8 million US dollars.

This was 8 million in 1929.

Howard, who is handsome, talented and rich, is also a playboy.

Especially in a place like Hollywood where beautiful women gather, there is no shortage of beautiful women.

It is rumored that this guy has dated 164 Hollywood actresses, including Oscar-winning actress Katharine Hepburn, sexy goddess Marilyn Monroe, and Hollywood's most beautiful beauty Ava Gardner.

It is simply enviable.

But this is far from the limit of Howard Hughes.

In addition to being playful, he is also a talented inventor.

Howard, whose film career has reached its peak, turned his attention to the aviation industry and established the giant in the US military industry - Hughes Aircraft Company.

When he was 30 years old, he personally flew the H-1 designed by himself and created a flight speed of 567.12 kilometers per hour, breaking the French record of 505.85 kilometers per hour.

Two years later, he drove the improved H1B aircraft and successfully achieved a non-stop flight across the American continent in only 7 hours, 28 minutes and 25 seconds, setting a new world record.

For this, he was also hailed as a "flying hero" and was received by US President Roosevelt.

In addition, he also jointly developed projects such as the "Hercules" transport aircraft with the US military, creating the largest aircraft in the world at that time. During World War II, Hughes Aircraft Company also became the most important military aircraft supplier in the United States.

In 1939, Howard took over Trans World Airlines and gained an important voice in the field of American aviation. He even took the lead in opening a transatlantic route. Howard, whose career was on the rise, became the first billionaire in the United States.

Hughes Aircraft Company also invented the first practical laser, the first geosynchronous communications satellite, and the first lunar probe, which laid the foundation for the United States' future moon landing plan.

In 1953, Howard also founded the Howard Hughes Medical Institute in Delaware.

This is a non-profit medical research institute dedicated to medical research and medical education, and has trained more than a dozen Nobel Prize winners.

In short, no matter what this guy does, he is like a god, and he has almost never failed.

Later, in order to meet his need to live in seclusion, he spent a huge amount of money to build a desert hotel.

More than a decade later, the hotel developed into Las Vegas.

Hughes' investment made a lot of money again.

It feels like God is throwing money at his head.

The kind that can hit him wherever he goes.

Inventor, adventurer, billionaire, romantic lover, if a man can collect these four labels, he will have no regrets in his life.

"Brother Liang, we're here."

Xu Liang responded and looked through the car window at the Morgan Club hidden in the afternoon sun outside.

This is not his first time here.

He had come here once when he was raising funds for Hanhua in New York last time.

He was not a big shot at that time.

When he came here, most people did not know him.

Unlike now...

After the bodyguard opened the car door, Xu Liang stepped out.

James Goldman and Lloyd Blankfein, who were waiting in front of the door, and a bald middle-aged man with a thin face and wearing a brown plaid suit, quickly stepped forward to greet him.

"Dear Xu, it's really exciting to meet you in New York."

James Goldman took the initiative to hug him.

Xu Liang did not refuse.

After a few pleasantries, his eyes turned.

Blankfein smiled and stretched out his right hand.

"Mr. Xu, it's an honor to meet you."

Looking at the Mediterranean in front of him, Xu Liang couldn't help but feel a little emotional.

John Thornton and John Thain fought to the death for the position of CEO of Goldman Sachs, and even he was affected.

Unexpectedly, he was picked up by the son of an ordinary post office sorter in Brooklyn.

"Mr. Blankfein, nice to meet you."

After shaking hands, Xu Liang turned to the last person.

"Hello, Mr. Xu, welcome to the Morgan Club."

"Xu, Paul is the patriarch of the Hughes family and a director of General Electric." James Goldman introduced.

"Mr. Hughes, nice to meet you." Xu Liang smiled.

Although the Hughes family has declined now.

The famous Hughes Aircraft Company has also been divided by General Electric, Raytheon and Boeing, but no one knows how much foundation this century-old family has.

Moreover, looking at James Goldman's attitude, you know that Paul Hughes in front of you is not simple.

The other party has a good attitude when they meet for the first time.

Xu Liang naturally has to give proper respect.

After greeting, everyone walked inside together.

Entering from the door, passing through the not-too-long porch, a magnificent hall appeared in front of you.

The hall runs through the first and second floors.

A gorgeous crystal chandelier illuminates the entire hall.

This place, which used to hold banquets and cocktail parties, is very quiet today.