Citi and Sydbank eye emerging market CSO, reports Financial Times

The Financial Times reports that Citi is planning to launch the first CDO of emerging market debt since the start of the credit crisis. It says the deal, which has Denmark’s Sydbank as manager, could be launched early next year. The article does not describe the structure of the mooted CDO, but comparisons with a previous Citi emerging market transaction known as Evolution suggest that the execution will be synthetic. Sydbank has previously acted as manager on a number of emerging market CSOs.