CSFB Divulges CDO Deal Data

July 21, 2003 (PLANSPONSOR.com) - In an effort to add transparency and enhanced liquidity to the Collateralized Debt Obligation (CDO) market, Credit Suisse First Boston (CSFB) has started putting out deal information on certain CDO deals.

According to a news release, CSFB is distributing the information on its deals to Qualified Institutional Buyers (QIBs) and third-party service providers.

“We see a need for greater transparency and the improved liquidity that it will help create,” CSFB’s Co-Head of Leveraged Finance Structured Products Jerry DeVito, said in a statement. “Distributing relevant deal information to the appropriate parties will help achieve this goal.”

The announcement said CSFB is the largest placement agent to release deal data to qualified third parties.

In the first six months of 2003, CSFB led the CDO league tables with nearly $3 billion in deals and an 18.8% market share; in 2002, CSFB had 25 issues totaling over $8 billion and a 16% market share.

These instruments, securitized pools that draw together an assortment of debt instruments, offer yields midway between those of investment-grade debt and junk bonds.