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ICICI Bank sews up Indias first CDO

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Our Banking Bureau Mumbai
Last Updated : Feb 28 2013 | 1:54 PM IST
 

The transaction was to the tune of Rs 97.53 crore. "For Indian investors, CDO transactions herald a new class of instruments available for investment," said Crisil head- structured finance ratings Ramraj Pai.
 

Undertaken in two parts, the domestic rating agency Crisil has rated the series A1 contribution amount of Rs 75.41 crore backed by corporate loan receivables originated by ICICI Bank at P1+ (SO) and series A2 contribution amounting to Rs 22.12 crore at AA-(SO).
 

The CDO has the potential to evolve as an important portfolio management tool for banks.
 
 

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