Lloyds TSB launches CDO of its corporate loans
Lloyds TSB has unveiled a £1 billion CDO transaction consisting of corporate loans on its books, the first time the bank has arranged and placed such a securitisation.
“This transaction clearly demonstrates the group’s objective of improving the way in which its balance sheet is managed, moving from a buy-and-hold approach towards an origination and distribution framework,” says Mark Grant, head of debt capital markets at Lloyds TSB Corporate Markets.
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