Called Harbourmaster CLO delivers strong returns to equity

By Sayed Kadiri

Friday, November 23, 2012

Harbourmaster Pro Rata CLO 1 has been called and sources say that the European CLO is expected to post strong results

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Comment by: Anonymous. Posted 11 years ago [2012-11-23 23:43:09]

Congratulations to the manager, the arranger, and investors for a successful transaction. As a side question, it occurs to me that calling this synthetic CLO must differ from calling a standard cash deal. In the latter, the manager must typically sell the collateral loans to arms-length buyers. In this case, the manager need only negotiate one price to unwind all the CDS with RBS. There is no true market test of collateral value. Or am I wrong?

CLOs

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