Deutsche Bank is in talks over a €900 million collateralized loan obligation (CLO) with investors, Reuters reports. The ECAS 2011-1 will primarily be backed by European second lien and mezzanine leveraged loans. The latest transaction will refinance two existing loan portfolios owned by European Capital. Investors are being offered around €305 million of senior notes, while ECAS will retain the entire subordinated tranche, sized at €593.25 million.

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