Debt investors lose principal as 2002 CLO reaches maturity

By Sayed Kadiri

A 2002 vintage European CLO reached its maturity date last week at which point class B and C investors were not redeemed in full

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TAGS: GSO

View details on CLO-i: Harbourmaster 3 - called deal

Comment by: Anonymous. Posted 5 years ago [2014-07-22 01:04:48]

Good article - it's always worthwhile to follow the fate of interesting transactions. Just as clarity, the CDO did not itself have an EoD ("event of default"). But the loss of par value for Class B and Class C means that these specific bonds defaulted for purposes of risk and ratings assessment.