HSBC and Cairn Financial Products, a subsidiary of hedge fund Cairn Capital, have closed a new long/short credit CPPI transaction called Mints.
The strategy invests in tranches of the iTraxx Europe and CDX investment-grade indices, generating positive carry from the long positions, while maintaining a broadly credit market neutral position.
The seven- and eight-year notes, denominated in dollars and euros, pay Libor+150 and Euribor+150 respectively.
Cairn will manage the ratio of individual tranch
The week on Risk.net, July 7-13, 2018Receive this by email