PIMCO is marketing its second European collateralized debt obligation, which is set to be priced in the coming weeks. The E264 million deal, called Euro Multi-Credit CDO, will feature euro-, sterling- and dollar-denominated securities, say bankers familiar with the deal. The CDO will be backed by asset-backed securities, and will represent PIMCO's third CDO of ABS. PIMCO will use euro-denominated asset hedges to manage its foreign exchange risk. Calls to Mark Hudoff, London-based CDO manager at PIMCO, were not returned.
PIMCO Preps Second Euro CDO