Zais plans uniquely structured triple-A tranche for its debut CLO

By Sayed Kadiri

Monday, February 24, 2014

Zais Group is on course to price its first CLO later this week in a deal that has a few unique characteristics

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TAGS: JP Morgan Zais

View details on CLO-i: Zais CLO 1

Comment by: Anonymous. Posted 10 years ago [2014-02-25 00:37:22]

Interesting, but it's a bit confusing to say the triple-A has a longer WAL than the mezz notes. Under stress (with no equity call of the mezz), the triple-A will be shorter. Also, if the equity does call the mezz notes before the triple-A, there cannot be any selling of collateral to raise funds for the call (I assume!).

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