Last week, Deerfield Capital priced an investment-grade average CDO, with the triple-As and double-As coming in at the tightest levels seen this year for that type of deal.

The transaction, called Valeo II, was brought to market by Credit Suisse First Boston. The triple-A wrapped seniors printed at +43 over the six-month Libor, while the double-As came in at 70 over the same benchmark.

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