To:

Cc:

<table><tr><th>From:</th><th>Brad Wechsler</th></tr><tr><td>Sent:</td><td>Sunday, July 17, 2016 12:48 PM</td></tr><tr><td>To:</td><td>Joe Avantario; John Castrucci</td></tr><tr><td>Cc:</td><td>Jeffrey Epstein; Leon Black</td></tr><tr><td>Subject:</td><td>Re: Plane loan</td></tr></table>

Thx joe-helpful
Sent from my Verizon Wireless BlackBerry ___________________________________

From: Joe Avantario
Date: Sun, 17 Jul 2016 12:11:24 +0000
To: Brad Wechsler ; John Castrucci&=t
Subject: Plane loan

On Friday I had a call with Megan Snowberger and Bet= O'Neil from BAML.

Their preliminary valuation of the plane is $13.2SMM=and they will most likely be able to finance at 100% consistent with the o=iginal loan

For valuation information they use the AREF(plane ve=sion of blue book) and their internal data as they finance, buy and sell a=lot of planes

Therefore, the required pay down on the Plane loan w=uld be approximately $5.5 MM (we currently have $7.4mm in the CF analysis)=o:p>

They will come back to us on: the request to push th= pay down out to December, proposed interest rate options and the new prin=ipal amortization on the facility

They also expressed that they come across many plane= coming off leases and for sale. I expressed that LDB doesn't seem to be=in the market at the moment but they could feel free to share information =ith us and we could pass it on to him if we has occasion to do so.

Tha=ks

Joe=/span>