The Straits Lion roars again

The Singapore asset manager hits Sing-dollar market with first Asian managed CDO.

Straits Lion Asset Management and Goldman Sachs have sold S$2.58 billion $1.5 billion of synthetic collateralized debt obligations CDOs to an unspecified group of investors. It is the first managed synthetic deal to be offered into the Singapore dollar market.

Straits Lion SGD CDO I provides investors with exposure to a basket of 105 corporate names, 59 of them from Asia, and proves once again the resilience of demand in the region and, in particular, for Singapore dollar assets. Just last week investors fully subscribed a S$1 billion offer of subordinated notes from UOB. That showed the kind of demand that is there, says Lye Thiam Wooi, head of...

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