Standard Chartered, the UK-listed emerging markets-focused bank, has successfully sold a new collateralised loan obligation, highlighting that there are specks of investor demand for complex, structured finance products after months of turmoil in the credit markets.
In the latest of a trickle of new CLOs, both cash and synthetic, to hit the markets in recent months, Standard Chartered said it sold a $1bn (â¬632bn) CLO from its issuing programme, a transaction that enables it to offload the credit risk of a portfolio of loans.
