German bad bank wins huge CLO auction

By Mike Peterson

A German bad bank has emerged as the winner of a huge auction of CLOs and other asset-backed securities this morning

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TAGS: Structured credit Clo fund Clo

Comment by: Anonymous. Posted 1 month ago [2017-03-14 15:19:23]

Any information on the cover bid? It could be that EAA simply bid the par amount of its CDO investment - which I assume to be the most senior tranche of that CDO. Nothing wrong with that other than it sends a misleading valuation signal to the market.