Shinsei Bank Ltd. is tapping the Japanese market once again with Shinsei Funding Four, a collateralized loan obligation, from which the market can expect to see the bank's eighth, ninth, tenth, and eleventh series of CLO transactions funded.

The notes are backed by a pool of loans to large and midsize corporations and municipalities in Japan that have been originated or purchased by Shinsei Bank. This deal features a master trust structure that is said to provide a new dynamic credit structure and bullet-maturity repayments assured via aggregate maturity allocation percentage (AMAP) technology. The legal and capital structures are similar to the bank's previous transactions.

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