Asia-Focussed CDOs Touch Down

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Asia-Focussed CDOs Touch Down

UBS and other firms in the region firms are starting to market collateralized debt obligations referencing Asian debt.

UBS and other firms in the region firms are starting to market collateralized debt obligations referencing Asian debt. Domestic credit structures and managers have been gaining favour because investors are looking to diversify into Asian names (DW, 9/29).

Ryan Chan, executive director in global credit derivatives at UBS, declined comment on the details of the firm's deal. He noted, however, the Asian credit-default swaps market and iTraxx indices are now deeper, making it possible to issue Asian-based deals. Liquidity in the Asian iTraxx is important because it is used by dealers to hedge CDO issuance.

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