VOL. XLV

No 17

29-April-2002

SAUDI ARABIA

NCBPlaces $400Mn Collateralized Loan Obligation

Saudi Arabias NationalCommercial Bank (NCB) said on 24 April that it has placed the $400mn ING-ORYXcollateralized loan obligation (CLO) which it launched to customers inDecember. The ING-ORYX CLO is administered by fund manager ING Capital AdvisersLLC. A CLO is a structured transaction with a diversified portfolio of seniorsecured loans which is funded by securities collateralized by these assets. Inthis...