When contemplating a structure for an offer, understanding the investor base is critical. GBSC's bondholder analysis will enable issuers and dealer managers alike to know the landscape of the holders - from the institutional investors to the hedge fund constituents to the retail community. GBSC is sensitive to timing constraints as well as access to book entry holder information. We will work with the issuer and guide them through the process of obtaining a Security Position Report and compile an initial assessment of holders once the report is in hand. More specific information regarding the institutional investors and their positions across all series of notes is provided and can be updated periodically. During an offer, GBSC will work with the dealer managers and provide feedback on which notable holders may have made an election, and which are still potentially on the sideline. It is this collaboration that helps ensure a transaction can be as successful as possible.