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Largest-Ever CDO Auction Wraps February 19, 2010

--Olivia Thetgyi
Vertical Capital last week conducted the largest liquidation of a collateralized debt obligation to date. The successful auction of $3.3 billion in assets from Klio III Funding bolstered the confidence of a market that had seen a number of bidlists failing to trade over the past few weeks. “There was a high volume of securities that traded across all different sectors in the structured products market. A lot of people bid. Even if they didn¹t win, it provided some confidence to the market,” said one market participant. The auction closed midday Friday.
Jim Galowski, partner at Stone Tower Capital, which took over as ...

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