CSFB Asset Management Arm Preps Third Deal . . .

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CSFB Asset Management Arm Preps Third Deal . . .

Credit Suisse First Boston is set to price the notes for Credit Suisse Asset Management's $350 million CSAM Funding III collateralized debt obligation. The CDO is significantly ramped up and includes mostly par assets, a source explained. The source mentioned that if CSAM were to begin ramping up now, in light of the declining interest rate spreads in the current loan market, the deal would have been tougher to complete. But the firm does not foresee a problem in ramping up the remaining assets to complete the deal, he added. Price talk on the $255 million AAA tranche is LIBOR plus 55 basis points, according to another source, who added that the BBB tranche is likely to be in the LIBOR plus 300 basis points region. An official at CSAM declined to comment and a CSFB banker did not return calls.

 

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