By Umesh Desai
HONG KONG, May 18 (Reuters) - A new structured investment designed to take advantage of overpriced credit derivatives is targeting investors nervous about the prospect of widening Asian credit spreads.
A $1.5 billion long-short synthetic collateralised debt obligation (CDO) launched by WestLB London aims to exploit spread widening in firms prone to leveraged buyouts (LBOs), leveraged recapitalisations and spread widening.
The strategy ...
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