In what is predicted to be the start of a string of European collateralized debt obligation (CDO) launches, Intermediate Capital Group (ICG) has kicked off a EURO350 million high yield CDO, dubbed the EuroCredit II.

The fund, to be placed by Morgan Stanley Dean Witter, is the successor to the EuroCredit CDO, Europe's first, which was launched by ICG in August 1999. That EURO400 million fund is now fully invested, as is ICG's Mezzanine 2000 fund, which closed at EURO465 million earlier this month.

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.