Tous les livres

Professionnel

Applis À propos Coach Connexion Commencer la lecture

Quantitative Finance · Glossaire

Qu'est-ce que « Collateralised loan obligation, payment waterfall » ?

Aussi appelé : collateralised loan obligation · payment waterfall

Definition 25.3 Markets II: Rates, FX and Credit · Chapitre 25 — Loans, CLOs and Securitisation

A collateralised loan obligation (CLO) is an SPV that holds an actively managed, diversified portfolio of leveraged loans and funds it by issuing rated notes of decreasing seniority and unrated equity. Its payment waterfall is the order, fixed in its documents, in which the cash collected from the loans is paid out on each payment date.

Lire dans le chapitre →