European CDO market takes step forward with two new issues

Author: | Published: 1 Nov 2000

The European market has been slow to take advantage of collateralized debt obligation (CDO) issues when compared to the US. In recent weeks, however, two deals have completed which may help open up this potentially lucrative avenue of fund raising.

The London office of Weil Gotshal & Manges has advised both new issues, following on from its role in last August's Eurocredit I issue, the first wholly euro-denominated CDO. The two recent deals are Concerto I, which raised euro450.1 million, the largest euro-denominated CDO with a mainly euro-denominated asset portfolio, and Eurocredit II, which has a euro350 million portfolio....