GSC Partners has announced the completion of two new CDOs, GSC ABS CDO 2005-1, a $500 million vehicle placed through UBS, and GSC ABS CDO 2006-1c, a $550 million vehicle placed through Citibank. Both CDO transactions are backed by credit default swaps primarily referencing home equity loan ABS and residential and commercial mortgage backed securities, and the subordinated notes on both were retained by GSC Capital Corp. GSC's structured finance group is the collateral manager for both CDOs and will monitor the mortgages and home equity loans underlying the issued securities.
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