The release is not clear, but it seems to imply a fully-owned subsidiary has the assets while the parent company in the US would be doing the offering.
None of this is plausible, of course. But I agree - they should have said the offering would be conducted somewhere far away and difficult to track down. They have already mixed two currencies - why not throw a third into the mix?
What are the odds these are "€3.75 billion" of fake or counterfeit bonds again? 100%, I would guess. I wonder how and where their value was "revealed" - did KPMG come to their offices in some unnamed European nation, opened a disused file cabinet and voila! Something worth €3.75 billion was revealed!
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