Credit Suisse First Boston is prepping a $307.5 million CDO for Trapeza Capital Management, backed primarily by trust preferred securities and other debt issued by community banks and thrifts. The portfolio is expected to have an average credit quality of Baa2'/'Baa3' (WARF 490). The deal pool is completely static.
Trapeza is a joint venture between, Trapeza Capital and Sun Trust Robinson - two firms that professionally manage funds and investment companies in the bank/thrift sector. A large portion of Trapeza's managed funds are invested in Trups.