Loan Ranger: Fractious markets
A sense of discord seeped into the loan market last week with bankers getting angry, lost and less-surprisingly, tipsy.
The week started with one banker vehemently refuting claims made by other firms that a deal he was participating in had an aggressive margin.
"If you are from a crappy little bank, then the margin is going to be too tight for you," he told the Ranger.
Then a mid-week meeting with Reinhaard Haas and Graham Lofts left the Ranger befuddled.
The trio found themselves lost in the Commerzbank offices, trooping around endless corridors looking for their meeting room.
The week ended with a grand finale for Lloyd’s James Galea — who had his stag party last weekend and is expecting to need most of the week to recover from the debauchery.
We hope he comes back with both of his eyebrows intact. Actually, we hope he doesn’t. That would spice up the credit committee meetings no end!