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> If Oaktree and others are offering folks 70%+ face value for their uninsured deposits

Does anyone know if the 70% offer from Oaktree applies to the remaining amount after FDIC pays out what they can on Monday/Tuesday? For example, if the FDIC releases 50% of uninsured deposits on Monday, can you sell the remaining 50% to Oaktree and recoup 85% (50% + 50% * 70%)?

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Great question and no idea. They’re sophisticated cats and thus guess the answer is “the deal is whatever you can negotiate with them.”

But it wouldn’t be very likely that anyone would give you the same terms for a junior tranche.

Not investing, legal, or any other advice, but unless my company would be in a very weird situation requiring access to 50% or more of our funds in the next 2 weeks, I wouldn’t even start entertaining offers below 95% or maybe 92%.

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