As the growth of environmentally friendly financial products gathers pace, Societe Generale is launching the first so-called 'green' CDO. Currently being marketed, SG expects to price the deal at the end of July and to close it at the end of August.
"There's a lot of activity in private equity and regulatory action," says Tony Venutolo, head of structured credit at SG in London. "If everything in the financial markets is going green then why wouldn't we do a green CDO?"
The bank has selected a