NewSmith uses option redemption on CDO

New angles


When it comes to realising value from a vintage collateralised debt obligation (CDO) with negative ratings drift, some might think it easier to extract blood from a stone. However, London-based NewSmith Financial Solutions completed the unwinding of a $1 billion CDO in September, without the investors taking a loss.

The corporate advisory firm was working on behalf of an insurance company, a major investor in the equity tranche of a CDO brought to market in 2002 by Hartford, Connecticut-based

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free registration? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here