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Derivatives

Macquarie Eyes CDO Follow-Up

Australia's Macquarie Bank is looking to re-tap its backyard with a second retail synthetic collateralized debt obligation targeted for early next year. "We're still in the market-testing stage, but this should launch by February or March," said Craig Swanger, head of structured products and alternative investments at Macquarie in Sydney. The bank launched a NZD129 million (USD84 million) retail CDO last year in New Zealand and a AUD103 million (USD72 million) structure in May as part of its Generator series. "These products have been around now and the sky hasn't fallen so people are accepting them more and more," said Swanger. Macquarie will put out a tender in the coming months for international houses to provide potential global CDO structures, which the Aussie bank would source for the retail deal, looking at such factors as pricing and suitability.

Craig Swanger

Australia's Macquarie Bank is looking to re-tap its backyard with a second retail synthetic collateralized debt obligation targeted for early next year. "We're still in the market-testing stage, but this should launch by February or March," said Craig Swanger, head of structured products and alternative investments at Macquarie in Sydney. The bank launched a NZD129 million (USD84 million) retail CDO last year in New Zealand and a AUD103 million (USD72 million) structure in May as part of its Generator series. "These products have been around now and the sky hasn't fallen so people are accepting them more and more," said Swanger. Macquarie will put out a tender in the coming months for international houses to provide potential global CDO structures, which the Aussie bank would source for the retail deal, looking at such factors as pricing and suitability.

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