German Bank Places Private CDO
GlobalCapital, is part of the Delinian Group, DELINIAN (GLOBALCAPITAL) LIMITED, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 15236213
Copyright © DELINIAN (GLOBALCAPITAL) LIMITED and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Derivatives

German Bank Places Private CDO

Bankgesellschaft Berlin placed a USD400 million private synthetic collateralized debt obligation last month. Richard Gillingham, head of credit derivatives in London, said the reference portfolio is made up of over 50 credit-default swaps on investment grade corporates in North America and Europe. The companies had an average rating of A minus. Investors bought into the five-year deal through either credit-default swaps or credit-linked notes, according to Gillingham. He declined further comment about the CDO.

The bank structured the deal because of a combination of client demand and because returns on the underlying default spreads have increased in comparison to the previous couple of months, according to Gillingham.

Related articles

Gift this article