Structured Credit Investor SCI’s 5th Annual Capital Relief Trades Seminar 17 October 2019, London
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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.


  • Sterne Agee loses two

    Michael Krull has joined Seer Capital Management as md and portfolio manager. He arrives from Sterne...

    Job Swaps    7 July 2015
  • SCI Start the Week - 6 July

    A look at the major activity in structured finance over the past seven days

    Pricings While there were no additions to the pipeline last week, new issuance was dominated by CLO...

    News    6 July 2015
  • Dock Street set to take on CDO

    Dock Street Capital Management has been put forward as successor collateral manager for Crystal Cove...

    Job Swaps    2 July 2015
  • CDO manager replaced

    Vanderbilt Capital Advisors has resigned from its role as collateral manager for Bristol CDO I and d...

    Job Swaps    1 July 2015
  • Valuations team beefs up

    MountainView IPS has added Alvin Hsu in a vp role and Alex Kolesnikoff in a senior analyst role. The...

    Job Swaps    25 June 2015
  • ABS CDO manager removed

    The controlling class noteholder of Crystal Cove CDO has directed the issuer to terminate and remove...

    Job Swaps    25 June 2015
  • CDO Monitor guidance released

    A new S&P report provides guidance on how to form an example spreadsheet that incorporates t...

    News Round-up    25 June 2015
  • New manager for ABS CDO

    Dock Street Capital Management has been appointed as successor collateral manager to Fort Sheridan A...

    Job Swaps    19 June 2015
  • CLO structurer brought in

    A former GreensLedge director has moved to Deutsche Bank to take up a CLO structuring role in London...

    Job Swaps    19 June 2015
  • Anchorage closes 'unique' deal

    Anchorage Capital Group's newest deal - Anchorage Credit Funding 1 - has a numbe...

    News Round-up    18 June 2015
  • Lehman payments due

    Liquidators PPB Advisory has made a final call for claims from potential CDO creditors of the Lehman...

    News Round-up    17 June 2015
  • CDO holdings divested

    Zions Bancorporation says it has sold the remainder of its CDO holdings. The move is expected to sub...

    Job Swaps    17 June 2015
  • Successful ED project 'requires support'

    While the European DataWarehouse (ED) has continued to make strides over the last 12 months, data sh...

    News    16 June 2015
  • SCI Start the Week - 15 June

    A look at the major activity in structured finance over the past seven days

    Pipeline It was another busy week for the pipeline. There were nine new ABS added - inclu...

    News    15 June 2015
  • Trups default drop continues

    The number of US bank Trups CDO combined defaults and deferrals decreased marginally to 19.7% at the...

    News Round-up    15 June 2015
  • ABS CDO manager resigns

    Vertical Capital has resigned as collateral manager of Kleros Preferred Funding. Pursuant to Section...

    Job Swaps    12 June 2015
  • SCI Start the Week - 8 June

    A look at the major activity in structured finance over the past seven days

    Pipeline Another Chinese deal joined the pipeline last week. It was one of six newly announced ABS,...

    News    8 June 2015
  • SF practice beefed up

    Shearman & Sterling has hired Charles Thompson as counsel in its structured finance group. H...

    Job Swaps    4 June 2015
  • CDO manager exchanged

    Dock Street Capital Management has taken over Delaware Investment Advisors' role as collateral manag...

    Job Swaps    3 June 2015
  • Trups flurry

    A flurry of US Trups CDO BWICs are circulating for trade this week. There are currently three Trup...

    SCIWire    1 June 2015
  • SCI Start the Week - 1 June

    A look at the major activity in structured finance over the past seven days

    Pipeline Several deals joined the pipeline during the holiday-shortened week, including a Chinese a...

    News    1 June 2015