From: chris.p.notes@mint.com To: wendy.levelsrite@mint.com Subject: Welcome to the team! Wendy - Hope you've hit the ground running on your first day on the desk - quite a change from the snail's pace over at Munchkin International I expect. As you know it is vital we secure this mandate with AB-Com - they're one of the biggest telecom mandates at the moment and it could really hoist us up those league tables. We should get it, as we're the only bank left who is seriously working on origination these days. Keep an eye on Ivor and Heidi for me - we hired you as the rising star of MTNs at Mint, so they might be a bit peeved! From: ivor.bond@mint.com To: chris.p.notes@mint.com Subject: Re: Hello! Chris - don't worry I have everything under control here. Wendy got off to a slow start phoning clients - still, don't suppose they're used to clients at Munchkin! I'll keep an eye on her as you say - but still not convinced she's right for the job. That World Cup-linked trade I started for the French corporate Fromage Francais is going down a treat - it's just a matter of which investors we do business with. If Germany win we get a big piece of the pie! From: chris.p.notes@mint.com To: mtndesk@mint.com Subject: Action immediately! Been told that Swankbank has a date set to launch their MTN trading website - make sure the IT guys take a look at our messaging system. I want a clean dress rehearsal within the week! From: wendy.levelsrite@mint.com To: n.clutterbuck@munchkin.com Subject: So far so good So far it's a breeze! Ivor is every bit as prattish as everyone says he is - Heidi seems nice - give her a chocolate eclair and she's your best friend. Haven't worked with Chris yet - he's out in Tokyo, but he doesn't seem to be particularly on the ball, especially since he left Ivor to look after his precious French corporate deal. Anyway, coming over here was worth it for the fat transfer fee they paid, but if HR at Munchkin can offer more then I could be tempted back. If you think there's a deal to be done give me the heads up... I might be able to poach Heidi for Munchkin too. From: chris.p.notes@mint.com To: ivor.bond@mint.com Subject: Urgent! Ivor, I spoke to Anna List at Shaft & Royal Rating Agency yesterday, and she let slip there are more corporate downgrades on the way. She better keep her knife away from Fromage Francais; that could put the spanner in the World Cup trade! See if you can get any more out of her. From: anna.list@shaft&royal.com To: ivor.bond@mint.com Subject: Re: small favour Giving out information on imminent rating actions is not something that we do before it is officially announced. And I must ask you not to phone Shaft & Royal's analysts pretending to be the issuer in question again. This is not a tactic that will ever work. Further phone calls of this nature may jeopardize the working relationship between Shaft & Royal and Mint Bank. From: chris.p.notes@mint.com To: ivor.bond@mint.com Subject: Land Ahoy! Jolly good work on that World Cup-linked note - sounds like everything's done and dusted. We could well do with $200 million to get us up into the top 10. And with Fromage Francais still at Baa2 I think you've got a pretty decent price on it - remember our mantra: keep the price high! And make sure the investors get their sheets finished soon as. All bodes well for the end of year bonuses! I'm just off to catch my plane back - I'll be coming straight into the office, so see you tomorrow morning. From: pierre.lefou@fromage.fr To: mtndesk@mint.com Subject: Interesting website Thanks for placing our paper - we really appreciate it and it is so lucky you sold it all just before we had news of the downgrade. While the rating cut was not entirely unexpected, we were really glad to find an investment bank that would take on the risk of the downgrade. PS. I saw on your website all the levels being posted by all the other issuers - this is very interesting but surely we are not meant to see other issuers' levels?! From: ivor.bond@mint.com To: it@mint.com Subject: MintChat Chris P. Notes gets back tomorrow and if he realizes you buffoons have released issuer levels onto the website he'll eat you for breakfast! Could you please remedy this ASAP! From: ivor.bond@mint.com To: heidi.price@mint.com Cc: wendy.levelsrite@mint.com Subject:Re: client access I have records of both of you spending four hours on the MintChat forum yesterday, which you obviously do not realize is a public forum and accessible to clients! Please do not discuss my choice of aftershave on the site in future as I have already had to answer four embarrassing emails from issuers. Re: World-Cup trade, Anna at Shaft & Royal says she sent Wendy an email about the downgrade of Fromage Francais to junk status (which I was not informed of!) Lucky we got the trade off our balance sheet just before the downgrade - I pity anyone who has to sell it on. From: ivor.bond@mint.com To: wendy.levelsrite@mint.com Subject: Unbelievable! Sorry I shouted earlier, but really you should have told me this morning that Angus Assets hadn't confirmed on the Fromage World Cup note. The problem is we're never going to sell that paper now and to boot we'll have a $200 million junk bond sitting on our balance sheet. I think we had better stop crying and just get this sorted out before Chris gets back tomorrow morning. From: chris.p.notes@mint.com To: mtndesk@mint.com Subject: Well done! You all did a splendid job while I was away - how on earth did you manage to drum up so much interest in the web site? I heard the news about the Fromage Francais downgrade - great timing! There aren't many banks who could pull off a deal like that. By the way, Cornelius from the New York office is arriving tomorrow - he'll be having a chat with us about writing cheques for trades - we're trying to cut down on that sort of practice.
June 28, 2002
