Following a last-minute adjustment, the $296 million Glacier CDO I pushed the spread boundaries for structured finance-backed CDO product, sources said. The deal's 4.1-year $190 million super-senior tranche priced at 41 basis points over three-month Libor, one basis point behind the all-time tight levels.

A source close to the transaction attributes this development to the collateral manager's experience in real estate management, as well as the minor restructuring, which involved the transfer of longer-dated collateral down the capital structure.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.