Malaysia's Alliance Investment Bank (AIB) last week launched an M$800 million ($216.4 million) primary collateralized loan obligation (CLO), which has a maturity of five-years and will be sold via the Idaman Capital special purpose vehicle.

AIB arranged the transaction - its second CLO - and will jointly lead the underwriting effort with Singapore's DBS Bank. The two banks will this week meet with investors in Malaysia, Hong Kong and Singapore. While some neutrals may look at the marketing of the deal outside Malaysia as a sensible plan, one banker well versed in the country's ABS scene thought otherwise.

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