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Headline: How Core became Cast Source: Euromoney Date: September 2000 more on Asset-Backed Securities more on Banking Few banks better illustrate how the market has shifted from cashflow to synthetic CLOs than Deutsche Bank. The bank has been one of the biggest issuers of conventional CLOs, securitizing several billion euros-worth of corporate loans through its Core series of transactions in 1998 and 1999. But at the end of 1999 Deutsche changed tack. The latest deal in the series was secured on a similar portfolio of corporate loans to the earlier Core deals, but this time Deutsche used a synthetic structure. |
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