Scotia Capital is preparing to roll out additional managed collateralized debt obligations in the coming weeks, following a recent high-profile Asian deal. The Canadian firm set up an Asian credit structuring unit at the end of last year and last month launched a five-year USD190 million managed synthetic CDO (DW, 3/24).
"We're looking at rolling out bespoke deals with longer maturities," said Matt Giffen, managing director and Asian head of structured products in Singapore. Seven- and 10-year structures that will be managed by Asian group Lion Capital Management are under consideration The tranches will be in the BBB to AA range on global credits with around 15% on regional names. "We've had a lot of interest, given we're working with a very experienced Asian manager," explained Giffen.
Additionally, Giffen said the firm will expand its regional focus and cover the Japanese market within the next two months. "All options are being explored but we see Japan as an extremely important market," he noted.
