GoldenTree refunds investors in $750m high-yield CDO

New York-based fund management company GoldenTree Asset Management is redeeming - 18 months prior to maturity - all the outstanding liabilities of Golden-Tree High Yield Opportunities I, a $750 million collateralised debt obligation (CDO) issued in October 2000. Although asset managers generally do not voluntarily return money to investors, this is the second time that GoldenTree has done so in the past year. In 2005, it returned almost $1 billion to investors from a long-only high-yield fun

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