By joining forces to structure a primary collateralised loan obligation CLO, the companies are able to put together a chunkier deal with an enhanced credit rating a five-year M$950 million $260 million issue comprising of three AAA-rated senior tranches, a AA-rated mezzanine tranche and a BB subordinated note. The 33 borrowers are all rated below AA by Malaysian Rating Corporation.
Of course, credit enhancement such as this comes at a price. To achieve ratings that...
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