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 - 26 February

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

  Upcoming event SCI Risk Transfer & Synthetics Seminar - 13 March, New YorkSCI's Synthetic Sec...

  News    26 February 2018

• Synthetics spur CDS expansion

  An evolving synthetic securitisation landscape is fuelling the expansion of the CDS market and CDS-l...

  News Analysis    21 February 2018

• SCI Start the Week - 19 February

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

  Upcoming event SCI Risk Transfer & Synthetics Seminar - 13 March, New York SCI...

  News    19 February 2018

• SCI Start the Week - 12 February

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

  Pipeline It was yet another busy week of pipeline additions. There were nine ABS, 11 CLOs, three CM...

  News    12 February 2018

• Carillion impact gauged

  Capital relief trade issuers and investors have been assessing the effect of Carillion's def...

  News Analysis    5 February 2018

• Call for transparency underlined

  A push for transparency is a common thread among European initiatives to reinvigorate the securitisa...

  News Analysis    2 February 2018

• SCI Start the Week - 29 January

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

  Pipeline The balance of additions to the pipeline last week closely followed that of the week befor...

  News    29 January 2018

• SCI Start the Week - 22 January

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

  Pipeline Last week saw pipeline additions return to favouring ABS. There were seven ABS added, alon...

  News    22 January 2018

• Market moves - 19 January

  Acquisitions RenaissanceRe Ventures is set to acquire a minority shareholding in Catalina Holdings...

  Market moves    19 January 2018

• CLO collateral defaults eyed

   Defaulted collateral in US 2.0 CLOs rose through December, as increased leveraged loan def...

  News    16 January 2018

• SCI Start the Week - 15 January

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

  Pipeline Last week saw a ramping up of additions to the pipeline, led by ABS and RMBS. There were s...

  News    15 January 2018

• Market moves - 12 January

  Acquisition Acrisure is set to acquire 100% of Beach & Associates equity from the firm&...

  Market moves    12 January 2018

• CRE servicing composition tracked

  Dwindling CMBS and CRE CDO issuance posed a significant challenge for commercial mortgage servicers...

  News    8 January 2018

• SCI Start the Week - 8 January

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

  Pipeline There were a few deals added to the pipeline in the first week of the year. These were fou...

  News    8 January 2018

• SCI Start the Week - 18 December

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

  Pipeline ABS additions to the pipeline finally dropped off last week, but RMBS, CMBS and CLOs conti...

  News    18 December 2017

• Job swaps round-up - 8 December

  EMEA Clayton Euro Risk has announced that Tony Ward, ceo and president, and Simon Collingridge, cl...

  Job Swaps    8 December 2017

• SCI Start the Week - 4 December

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

  Pipeline The pipeline burst back into life last week as 10 ABS deals were added. There were also th...

  News    4 December 2017

• SCI Start the Week - 27 November

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

  PipelineAs might have been expected, there were very few additions to the pipeline last week. In fac...

  News    27 November 2017

• Job swaps round-up - 24 November

  EMEA Alvin Wong has been hired as director at United Overseas Bank (UOB). Previously he was svp...

  Job Swaps    24 November 2017

• SCI Start the Week - 20 November

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

  Pipeline There were considerably fewer ABS added to the pipeline last week as additions became more...

  News    20 November 2017

• Job swaps round-up - 17 November

  EMEA CSC has hired Jonathan Hanly as md to its Ireland office, Hinnerk Koch as md to its Luxembour...

  Job Swaps    17 November 2017