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Credit Suisse First Boston has priced the notes for Credit Suisse Asset Management's CSAM Funding III collateralized debt obligation. The $401 million deal was initially slated to be $350 million but was increased due to investor demand, said a source. The $292.5 million AAA tranche priced at LIBOR plus 58 basis points. The top rated tranches on recent deals are reported to have priced at LIBOR plus 55 basis points, but one manager disputed this.
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Exide Technologies bank debt has been slightly stronger over the last month as the company nears emergence from bankruptcy. The company's term loan "B" was said to have traded in the 63-64 context. This is up from the 57 591/2 context where it was quoted a month ago, according to LoanX. One trader said there are a lot of potential buyers of the paper, but not many sellers. He noted that increased mergers and acquisition activity in the sector is adding to interest in the name.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.