First ever long/short CCO sparks strong Asian interest



nvestors in Asia showed strong interest in Credit Suisse's issuance in April of the first-ever long/short collateralised commodity obligation (CCO) product - they bought around 30% of the $190 million issue of notes, says the Swiss bank. This was "quite a large portion of a decently sized" issue, says Rachel Hardee, head of Asia-Pacific structured credit at Derivative Fitch in Hong Kong. And a rival dealer described the deal size as an "eye-opener".

Most of the issue - named 'Cargo 2' and

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