MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 26, 2003 Eaton Vance Plans $300 Million CDO Issue Eaton Vance is preparing to raise $300 million in a collateralized debt obligation (CDO). The money manager will secure the debt with speculative grade bank loans, Reuters reported on Tuesday. The loans will carry a Moody's average weighted rating of between Ba3 and B1. The CDOs will come in three classes that will be both publicly and privately placed. Lehman Brothers will be the lead underwriter on the issue, according to Reuters. The class A issue will consist of $231 million of debt with an 8 year average life and Aaa ratings. The $24 million B class will carry an A2 rating and an average life of 10.3 years. The remaining $15 million C class will carry a Baa2 rating and 10.3 year average life. Printed from: MFWire.com/story.asp?s=5718 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |