MTN Leak
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The ninth annual Discover Iceland day proved in many ways — most of them unforeseen by the organisers — to be the most memorable yet. We’re certainly sure that few of the coverage officers, credit analysts and MTN traders attending will have any concerns in future about levels of liquidity in Iceland.
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Discover Iceland 2007 (probably the wateriest corporate junket in the world) is almost upon us and Leak hopes he is not about to reacquaint himself with the controls of a quad bike.
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Life used to be simple for a commercial paper trader. He’d get into the office, order a latte and sell the same credits to the same investors at the same price.
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Daiwa press-ganged a motley crew of misfits and MTNers on to a 37 foot yacht this week, taking them across to the Isle of Wight for a day at the Cowes sailing regatta.
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When Commerzbank’s Amaury Gossé and Société Générale’s Richad Soundardjee aren’t competing on extendable FRNs and equity linked trades, they can’t bear to be apart.
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Leak’s colleagues at Dealogic have alerted us to a growing barrage of trades placed in the last couple of weeks by structured note powerhouse Tokyo Tokai Securities. Well, three anyway. What could be going on?
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All credit to Dresdner Kleinwort for arranging such a civilised drinks reception on the terrace of its plush new offices on Gresham Street this week. We were particularly grateful for the strategically placed, feng shui-compliant water fountain, an ideal substitute for those wishing to smoke behind the bike sheds.
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Leak hears that those demanding folk at Leaseplan have been swinging clubs at their dealer panel again, many of whom took refuge in bunkers. We would, too, if we had been invited to their golf day yesterday (Thursday). At least it rained.
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After the boozy networking of last week’s Euromoney Forum, Leak’s alter ego fancied a change. The boozy networking of Société Générale’s press party at the Victoria & Albert Museum was just what the doctor ordered (that, and another mojito).