ABN AMRO has begun to market a collateralized loan obligation called Amstel 03-02. The E800 million deal will be backed by ABN's own sub-investment grade loan collateral, according a banker on ABN's London securitization desk. A precise date for launching the deal has not yet been set.
The loans comprising Amstel 03-02 are originated from Europe and the U.S. The last Amstel deal was priced in late 2001. That deal was a mammoth E12.5 billion CLO backed by investment-grade loans. The ABN banker says another investment-grade deal may be in the works.