Mizuho tests Japanese CDO market

New angles

Synthetic collateralised debt obligations (CDOs) are having a boom year in Japan, with arbitrage deals already popular among investors seeking higher returns. But Japan is now moving into new territory – synthetic balance-sheet collateralised loan obligations (CLOs).

Mizuho Corporate Bank’s three-year ¥1.265 trillion ($10.4 billion) synthetic balance sheet CLO, which closed in late September, is a welcome leap for Japan’s synthetic securitisation market, say bankers. “It’s great that

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