Market split over Credit Suisse’s CLO mascots

By Hugh Minch

Credit Suisse has introduced a new structural innovation to CLO notes known as a ‘mascot’ — a modifiable and splittable or combinable tranche, which it added to Trimaran Cavu 2019-1 and Ocean Trails CLO VII. 

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TAGS: Credit Suisse CLO Trimaran Primary market North America Five Arrows