Our lips are sealed
Congratulations to the winner of the inaugural Euromoney award for media relations. This bank, before pitching a CDO as part of our deals of the year research, invited the relevant Euromoney journalists to sign a beautifully drafted, five-page confidentiality agreement.
Quite how the journalists were meant to justify their choice of the 2005’s best CDO in print using information that they could not disclose to anyone else was not explained.
If only the bank were so thorough in its documentation when it sold CDOs to investors rather than reporters it might have avoided a nasty spat that resulted in an out-of-court settlement last year.