Sputnik CDO 1 is a five-year, $400 million synthetic CDO on a diversified portfolio of Russian, Kazakh and Ukrainian bank and corporate credits. The transaction will be managed by VTB Bank Austria, a subsidiary of VTB Group that specializes in structured credit.
The capital structure of the CDO includes unrated equity (0% to 10%) and senior equity (10% to 20%), as well as mezzanine tranches rated Ba2, Baa3 and A2 by Moody’s, each issued by a SPV domiciled in Ireland.
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