SG launches Asian arbitrage CDO
SG, the investment banking arm of French bank Société Générale, has launched the first publicly offered arbitrage synthetic collateralised debt obligation (CDO) backed by 100% Asian exposure.
The five-year $100 million deal comprises a portfolio of 25 credit default swaps on reference credits from Australia, China, Hong Kong, Korea, Malay-sia, the Philippines, Singapore and Thailand. The structure consists of a $77 million senior-class tranche rated Aaa by ratings agency Moody’s
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