First Union recently launched Apex CDO I 2000-1, the latest in a string of collateralized debt obligations brought to market by the bank over the last few months. According to a source, the deal priced a few weeks back and should close on Tuesday, though First Union declined to comment.

Unlike recent deals via First Union - such as St. George Funding or Special Value Bond Fund II - First Union is also collateral manager on the Apex deal, through an in-house shop called First Union Institutional Debt Management.

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