Those familiar with Zais Group's CDO-of-CDOs know that the firm likes to pick a theme for each deal and ZING IV is no exception. This transaction's premise is a higher quality pool than in the past and size - $726.25 million, making it the largest CDO-of-CDOs to-date and the biggest U.S. dollar CDO in 2002.

Zais Group issued the first CDO-of-CDOs with underwriter JPMorgan in 1999 kicking-off the Zais Investment Grade Limited series.

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