Need Investors? Try a Synthetic CLO: Lisa Abramowicz
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(Bloomberg) -- Imagine this pitch: Buy a complicated,derivatives-based deal tied to emerging-markets debt. Right now.In a shaky credit market.
The expected response might be laughter -- orspeechlessness. But Standard Chartered pulled off just such adeal in the past few weeks, selling a $236.3 million piece of asynthetic collateralized loan obligation to a group of hedgefunds in a risk-transfer maneuver.