CDO
A CDO is a collateralized debt obligation or collateralised debt obligation known collectively as CDOs. CDOs are a type of asset-backed security or structured credit product that offers exposure to the credit of a portfolio of fixed income assets, such as corporate or government debt, loans, asset-backed securities (ABS), including mortgage-backed securities (MBS) such as CMBS and MBS, known as CDOs of ABS or ABS CDOs, or other CDOs, known as CDO-squared or CDOs of CDOs. CDOs can be cashflow CDOs (referencing real assets) or synthetic CDOs (referencing credit derivatives, such as CDS) or hybrid CDOs (a mix of cashflow and synthetic). Typical CDOs divide the credit risk among different tranches: senior tranches (rated AAA), mezzanine tranches (AA to B) and equity tranches (unrated). Losses are applied in reverse order of seniority and so junior tranches offer higher coupons to compensate for the added risk. However, synthetic CDOs can be structured to offer single-tranche CDOs as well.
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SCI Start the Week - 4 April
A look at the major activity in structured finance over the past seven days
Pipeline The week following Easter marked a slow-down in the pace of deals joining the pipeline. At...
News 4 April 2016 -
Rating agency adds sales chief
Scope Ratings has appointed Sven Janssen to the newly-created role of chief sales and marketing offi...
Job Swaps 1 April 2016 -
US CLOs busy
Supply keeps on coming in the US CLO secondary market. "It's very busy day today, which is a funct...
SCIWire 30 March 2016 -
Goldberg bolsters commercial practice
Goldberg Segalla has brought in Louis Russo as partner and a member of its business and commercial p...
Job Swaps 29 March 2016 -
Japanese rating upgrades increase
The upgrade rate for Japanese structured finance securities rose in 2015, notes S&P. S&a...
News Round-up 29 March 2016 -
Trups CDO defaults, deferrals flat
US bank Trups CDO combined defaults and deferrals remained at 17.4% at end-February, according to Fi...
News Round-up 23 March 2016 -
CDO assignments affirmed
Moody's has determined that the deemed assignment of the collateral management agreements for Altius...
Job Swaps 21 March 2016 -
ECB suggests regulatory tweaks
The ECB has suggested changes to the new securitisation package proposed by the European Commission...
News Round-up 15 March 2016 -
Indian distressed opportunities targeted
The Canada Pension Plan Investment Board (CPPIB) and Kotak Mahindra Group have signed an agreement t...
News Round-up 15 March 2016 -
Italian SPV rules amended
The Bank of Italy has updated its supervisory instructions for banks and financial intermediaries co...
News Round-up 14 March 2016 -
SCI Start the Week - 14 March
A look at the major activity in structured finance over the past seven days
Pipeline Last week's pipeline additions were heavily weighted toward ABS. There were seven new ABS,...
News 14 March 2016 -
ECB looks to provide boost
A new set of measures announced by the ECB could boost ABS supply. The central bank is launching a s...
News 11 March 2016 -
Euro secondary sidelined
The improving macro picture has so far failed to encourage the majority of participants back into th...
SCIWire 9 March 2016 -
Opportunistic credit fund launched
La Française Global Investment Solutions has launched a multi-strategy long/short credit fu...
News Round-up 8 March 2016 -
Deleveraging drives Trups improvement
Moody's reports that the credit quality of Trups CDOs continued to improve in 2015 due to deleveragi...
News Round-up 8 March 2016 -
Oaktree targets Aussie growth
Oaktree Capital Group has opened an office in Sydney, Australia. Byron Beath has joined the firm as...
Job Swaps 8 March 2016 -
SCI Start the Week - 7 March
A look at the major activity in structured finance over the past seven days
Pipeline With many market participants decamped to Las Vegas for the industry conference, pipeline...
News 7 March 2016 -
Associations confirm STS support
AFME, the European Fund and Asset Management Association (EFAMA), the International Capital Market A...
News Round-up 3 March 2016 -
Sky Road, Virtus link products
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News Round-up 2 March 2016 -
Structured credit analyst promoted
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Job Swaps 1 March 2016 -
SCI Start the Week - 29 February
A look at the major activity in structured finance over the past seven days
Pipeline The number of ABS deals joining the pipeline slowed last week. The distribution across sec...
News 29 February 2016