A host of asset managers are either considering or preparing to launch CBOs backed by emerging market debt in order to take advantage of depressed asset prices in this volatile sector.

Massachusetts Mutual Life Insurance, Offit Bank, Standard Asset Management and Harborview Capital Management are all preparing to ramp up portfolios by EM sovereign and corporate debt, sources said. No lead managers were mentioned, which may mean some mandates could still be in the running. Furthermore, it's understood that the various monolines have been receiving preliminary inquiries with regards to the deals.

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