BNP Paribas cancels Asian CLO

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BNP Paribas seems to be the first casualty of the French regulator’s new rules on risk weightings for asset-backed securities. According to a source familiar with the transaction, the French bank has cancelled the sale of Pacific Liberté, its planned $1.2 billion three-year Asia-Pacific synthetic collateralised loan obligation (CLO).

The bank had been working on the deal since last year, with an initial launch planned for late in the third quarter. After successive tentative launch dat

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