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Collateralized Loan Obligations (CLOs): A Primer Andreas A. Jobst

Collateralized Loan Obligations (CLOs): A Primer

Andreas A. Jobst

Published
ISBN :
Paperback
73 pages
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 About the Book 

The book surveys the various types of asset-backed securitisation (ABS) and provides a working definition of so-called collateralised loan obligations (CLOs), which allow issuers to sell large portfolios of commercial loans and their attendant creditMoreThe book surveys the various types of asset-backed securitisation (ABS) and provides a working definition of so-called collateralised loan obligations (CLOs), which allow issuers to sell large portfolios of commercial loans and their attendant credit risk directly to capital markets. Free of the common rhetoric and slogans, which sometimes substitute for understanding of the complex nature of structured finance, we describe the theoretical foundations of this specialised form of loan securitisation. The paper considers not only the distinctive properties and benefits of CLOs, but also the information inherent in the transfer of credit risk, in order to equally privilege the critical aspects of security design affecting the structure of CLO transactions.