OCBC and Deutsche offer $1 billion synthetic CDO
Singapore's Oversea-Chinese Banking Corporation (OCBC) and Deutsche Bank have launched a managed synthetic investment-grade collateralised debt obligation (CDO) transaction worth $1 billion. 'OCBC global investment grade CDO 1' went on sale this week.
The deal demonstrates the growing confidence of Asian portfolio managers with structured credit. This can be attributed, in part, to the decrease in corporate defaults this year, and to the improving
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