Taiwanese CDOs go local

Multi-currency deal from Jih Sun could be first to offer NT$ tranche.

Deutsche Bank has closed what might be Taiwan's first local currency sale of synthetic collateralized debt obligations CDOs. The offer, which was created out of Deutsche's global risk book, was arranged for Jih Sun International Bank and is referenced to an investment grade portfolio of 100 international corporate and financial names.

Two-thirds of the notes are denominated in New Taiwanese dollars and the remaining third is in US dollars. The notional amount of the...

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