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.

• Job swaps round-up - 14 July

  North America Mortgage Capital Trading has hired Bill Berliner to the newly created role of direct...

  Job Swaps    14 July 2017

• SCI Start the Week - 10 July

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

  Pipeline Pipeline activity picked up a little last week, but remained fairly muted. Additions con...

  News    10 July 2017

• ESBies unlikely to boost ABS

  The securitisation market is unlikely to see any benefit from the issuance of European safe bonds (S...

  News Analysis    7 July 2017

• SCI Start the Week - 3 July

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

  PipelineOnly a handful of transactions remained in the pipeline last week. Of these, RMBS accounted...

  News    3 July 2017

• Job swaps round-up - 30 June

  North America Alexander Popov has joined Carlyle Group as md to lead the credit opportunities busi...

  Job Swaps    30 June 2017

• Euro middle market CLOs on the cards

  Middle market CLO issuance is expanding in the US and emerging in Europe, with a variety of warehous...

  News    27 June 2017

• Atlas CLO debuts AMR feature

  Crescent Capital Group last week priced its latest broadly syndicated CLO. The US$413.7m Atlas Senio...

  News    27 June 2017

• Job swaps round-up - 23 June

  Auction Towd Point Master Funding has won the auction of 1,262 seasoned re-performing and moderate...

  Job Swaps    23 June 2017

• SCI Start the Week - 19 June

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

  Pipeline A rush of ABS deals joined the pipeline last week, picking up from the limited activity of...

  News    19 June 2017

• Job swaps round-up - 16 June

  Acquisitions The Competition and Markets Authority (CMA) has announced an initial decision in rela...

  Job Swaps    16 June 2017

• Treasury reports on regulatory impact

  The US Treasury has issued a first report in a series regarding regulation of the financial system i...

  News    15 June 2017

• SCI Start the Week - 12 June

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

  Pipeline It was another week of limited pipeline activity, although several CMBS have been announce...

  News    12 June 2017

• Job swaps round-up - 9 June

  North America Brian Ford has been appointed head of structured finance research at Kroll Bond Rati...

  Job Swaps    9 June 2017

• CHOICE Act passes in House

  The US House of Representatives has passed the Financial CHOICE Act. The legislation aims to replace...

  News    9 June 2017

• SCI Start the Week - 5 June

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

  Pipeline With many market participants decamping to Barcelona this week for the industry conference...

  News    5 June 2017

• Job swaps round-up - 2 June

  EMEA BNP Paribas Asset Management has launched a new private debt and real assets investm...

  Job Swaps    2 June 2017

• US CLOs stable

  The US CLO secondary market continues to be stable. "The market is taking a bit of a pause and we'...

  SCIWire    1 June 2017

• Job swaps round-up - 26 May

  North America SFIG has hired Covell Adams as chief administration officer and Scott Brody as direc...

  Job Swaps    26 May 2017

• Investors overweight RMBS

  Investors are moving out of consumer ABS and into US non-agency RMBS, agency RMBS and cash, accordin...

  News    23 May 2017

• Global interest in Euro SF surges

  The number of investors in European securitisations is ramping up and transactions are increasingly...

  News    22 May 2017

• SCI Start the Week - 22 May

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

  Pipeline There were 11 ABS deals added to the pipeline last week. These were joined by an ILS, six...

  News    22 May 2017