Invesco Asset Management is readying a E2.4 billion collateral synthetic obligation (CSO). The multi-tranche transaction is exposed to credit risk from a portfolio of credit default swaps. There may be a small portion of asset-backed securities in the structure. The deal is scheduled to be priced by year-end and one banker familiar with the transactions says it should have no trouble in the market given Invesco's sterling track record. Called Lisa, the deal is being lead managed by Dresdner Kleinwort Wasserstein. This is Invesco's second collateralized deal this year.
Invesco Preps E2.4 Bln Synthetic Deal