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Pre-migration untagged articles

  • Investment managers' limited participation in the OTC derivatives market is due mainly to the lack of appropriate systems, according to a panel discussion hosted by fund management consultancy Investit this week.
  • The Portuguese Ministry of Finance threw its weight behind the country's planned covered bond market by holding a conference in Lisbon last Friday (June 2) and a short European roadshow on Wednesday. The Bank of Portugal has yet to put in place the secondary legislation necessary for issuance, but those working on the project are hopeful that this will be ready by the summer break.
  • The European credit default swap markets were led by the equity markets this week. Prices were volatile, with heavy trading in the indices.
  • Issuance was very strong in the EuroCP market this week, in spite of the holiday in most of continental Europe on Monday. Flows strengthened as the week progressed.
  • Eurotunnel confirmed yesterday (Thursday) that Citigroup had requested a meeting with its board to discuss a £3.5bn plan to restructure the Channel Tunnel operator's £6.2bn debt.
  • Commerzbank's ABCP conduit Kaiserplatz Funding is expected to increase its outstandings over the next one month, to fund Commerzbank's large CLO transaction, CoCo.
  • SNS Bank's resident party boys, Roger Schumann and Jan Boon, laid on a full day of fun and frolics for 30 or so bankers and hacks last Friday, at its annual magical mystery tour around the Dutch countryside. Expect to go higher and faster than ever before, they had told us. Well, it all started with a bus ride. Very eco-conscious — but things soon hotted up. The bus took the party to racing car manufacturer Donkervoort's factory for a guided tour of the production line. Some then went on to Donkervoort's practice track for a ride at breakneck speed, courtesy of Burt, the company's professional driver and sometime TV star. Meanwhile, the other half of the party were shuttled to an airfield in a 15 metre stretch Hummer — resplendent with strobe, video and sound system, and a ceiling inlaid with fibre optic lights — for a helicopter flight. Afterwards, the two teams swapped over. SNS had planned to use the helicopter to fly us from the factory to the racetrack. Unfortunately, however, this turned out to be illegal, so into the glittering Hummer we went and zoomed off to a proper airfield. Down at the racetrack, some of the gang seemed a little disappointed not to be taking the wheel themselves. After we cleared the first corner at 180kph, though, Leak realised the bitter truth: Burt was better than the rest of us at handling this particular beast. SNS also laid on stunt driving. In souped-up BMWs, we ragged around a waterlogged course, skidding here and there until we were quite dizzy. By that stage blood sugar needed replenishing, and dinner beckoned. Unfortunately that was not the only beckoning 10 of the group were to receive. It was a perfectly honest mistake, m'lud — we just got lost among the maze of Amsterdam streets! For dinner, Jan Boon had booked a cabaret joint in the red light district. Naturally — he lived there in his student days. It was a cost saving exercise, he said. For the lost sheep of SNS's flock, however, the place was dashed hard to find, and we ended up about to knock on the door of No. 15, in the wrong street. The hostess who opened the door was only too welcoming — but it took only seconds to realise her hospitality was not what we were looking for. Having eventually found the right shebeen, we found it appropriately named Paleis van de Weemoed (Palace of Nostalgia). The entertainment was intriguing: a woman of a certain age sang and narrated over a silent 1940s New York gangster movie, accompanied by a white-suited, ponytailed feller on a piano. Maybe it took Jan back to his student days. A good few bottles of wine helped us on to a club (not in the red light district, before you ask). After Leak's introduction to the wonders of the mojito at LeasePlan's bash at the Barcelona Grand Prix last month, we thought it time to pass on the flame. Happily, we found an eager taker — SNS's managing director, Kris Wulteputte. The mojito seemed to work its magic. After telling Leak he didn't go clubbing much any more, Kris took to the dance floor, mojito in hand, and remained there for the rest of the night. Jan Wipplinger was another banker getting into the party spirit; he was last seen doing his bit for German-Dutch relations with a couple of girls on the dance floor. Please send any compromising photos to leak@euroweek.com
  • In a remarkable week for Euromarket staff moves, EuroWeek can reveal a string of high profile departures from leading capital markets institutions.