HSBC and Solent offer Asia-focused CPPI credit deal
Asian-structured deal the pick of a recent wave of CPPIs
Asian investors' growing risk aversion and concerns over credit spread widening is boosting the popularity of constant proportion portfolio insurance (CPPI) credit transactions in the Asia-Pacific region.
At least seven CPPI transactions referencing various underlyings have hit the market since the turn of the year, but March's Centris deal is particularly noteworthy for being structured and coordinated out of Asia.
The Centris $200 million-plus-equivalent managed long/short credit CPPI, launched
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