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.


  • 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
  • Trading duo reunited

    Brean Capital has hired Rich Barry and Reggie Fernandez as mds in its fixed income sales and trading...

    Job Swaps    1 June 2015
  • Euro secondary subdued

    A distracted European securitisation secondary market looks to be closing the week in subdued manner...

    SCIWire    29 May 2015
  • CDO manager takes over

    Vanderbilt Capital Advisors has resigned from its role as collateral manager for six transactions, w...

    Job Swaps    21 May 2015
  • Euro ABS/MBS builds up steam

    The European ABS/MBS secondary market looks to be building up a head of steam. Yesterday was, as e...

    SCIWire    19 May 2015
  • SCI Start the Week - 18 May

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

    Pipeline It was another active week for the pipeline. At the final count there were 13 new ABS, one...

    News    18 May 2015
  • Euro ABS/MBS shows caution

    Some signs of caution are entering the European ABS/MBS secondary market, but it may not last. The...

    SCIWire    18 May 2015
  • ABS CDO manager replaced

    Dock Street Capital Management has replaced Rabobank International as collateral manager for Solstic...

    Job Swaps    15 May 2015
  • Trups defaults drop marginally

    The number of US bank Trups CDO combined defaults and deferrals marginally decreased to 19.9% at end...

    News Round-up    14 May 2015
  • SCI Start the Week - 11 May

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

    Pipeline Additions to the pipeline last week were mainly new ABS deals. As well as six of those the...

    News    11 May 2015
  • CDO manager set to change

    Reservoir Funding plans to remove its incumbent collateral manager, Cutwater Asset Management, at th...

    Job Swaps    7 May 2015
  • Euro secondary mixed

    European secondary securitisation markets are seeing a mixed tone amid continuing low volumes. Vol...

    SCIWire    7 May 2015
  • US CLO activity drops

    Activity in the US CLO secondary market has dropped again this week and looks set to stay that way f...

    SCIWire    6 May 2015
  • Trups defaults continue falling

    The number of US bank Trups CDO combined defaults and deferrals decreased to 20% at end-March, accor...

    News Round-up    30 April 2015
  • CDO manager replaces two

    Rabobank International has resigned from its role as the collateral manager for Vermeer Funding and...

    Job Swaps    29 April 2015
  • SCI Start the Week - 27 April

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

    Pipeline A modest number of deals remained in the pipeline at the end of last week. The new entrant...

    News    27 April 2015
  • US CDO/CLO lists added

    After two days of being all but becalmed there are a growing number of lists being added to the US C...

    SCIWire    22 April 2015
  • SCI Start the Week - 20 April

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

    Pipeline The number of deals joining the pipeline was steady last week, with more RMBS than the wee...

    News    20 April 2015
  • Trups CDO case concluded

    The London High Court has ruled in favor of Taberna Europe in a misrepresentation judgment against f...

    Job Swaps    15 April 2015
  • SCI Start the Week - 13 April

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

    PipelineSeveral deals were added to the pipeline last week as the market started up again after the...

    News    13 April 2015
  • Flicker of life in US CDO/CLO BWICs

    The US CDO/CLO BWIC calendar is flickering into life for tomorrow. After a relatively quiet week l...

    SCIWire    13 April 2015