Straits Lion and Goldman complete $1.5 billion CDO

First Asian managed synthetic CDO.

Goldman Sachs and Singaporean asset manager Straits Lion have joined forces to complete Straits Lion CDO I, a $1.5 billion managed synthetic collateralized debt obligation. The CDO comprises 100 single name investment grade corporate credits in the form of credit default swaps, 65% of which are Asian names, with the rest coming from US, Europe and other emerging markets.

The product will have a seven-year lifespan with a call option after five years. The transaction represents the...

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