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| | Collateralized mortgage obligation - Wikipedia, the free encyclopedia |
 | | In most CMO transactions, the total balance of the tranches is equal to the total balance of the collateral, and they remain equal, as each time the balance of the collateral changes (because of the principal payments on the underlying mortgages) the total balance of the tranches is also changed. | | | For example, with collateral that pays a coupon of 8%, you could have two tranches that each have half of the principal, one being a floater that pays libor with a cap of 16%, the other being an inverse floater that pays a coupon of 16 minus libor. | | | A collateralized mortgage obligation (CMO) is a type of mortgage-backed security, which has been divided up into tranches. |
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http://en.wikipedia.org/wiki/Collateralized_mortgage_obligation
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| | [No title] |
| | Obligation recognized for the future liability to make annuity payments to the employees (pension) and the actuarial present value as of a measurement date of the other post-retirement benefits expected to be paid to or for the employee (other post-retirement benefits). | | | Debt that has been extended or re-scheduled that is not subordinated debt. | | | Obligations drawn from a line of credit, which is a bank's commitments to make loans up to a specific amount for a specific period of time. |
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http://www.xbrl.org/taxonomy/us/fr/common/pt/2003-07-07/usfr-pt-2003-07-07.xsd
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| | Collateralized Debt Obligation |
| | Collateralized debt obligations are securitized interests in pools of—generally non-mortgage—assets. | | | Payments to tranches are not contingent on the adequacy of the collateral's cash flows, but rather the adequacy of its market value. | | | If there are defaults or the CDO's collateral otherwise underperforms, scheduled payments to senior tranches take precedence over those of mezzanine tranches, and scheduled payments to mezzanine tranches take precedence over those to subordinated/equity tranches. |
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http://www.riskglossary.com/articles/collateralized_debt_obligation.htm
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| | [No title] |
| | Generally, a CDO is a special purpose investment vehicle which is established to securitize assets such as corporate bonds, corporate loans or the like. | | | For example, as used herein, the term"CDO" means a debt or equity security collateralized by debt obligations. | | | In some embodiments, both the first and second investments are collateralized debt obligation (CDO) investments, and the common asset is at least one of a debt security and a corporate loan. |
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http://www.wipo.int/cgi-pct/guest/getbykey5?KEY=04/72778.040826&ELEMENT_SET=DECL
(8669 words)
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| | Atlantic Asset Management Collateralized Debt Obligations (CDOs) |
| | Typically, a CDO issues multiple debt "tranches" which, when purchased by investors, finance the purchase of the underlying portfolio. | | | CDOs provide a very effective way for institutional investors to diversify risk in private equity portfolios because the return potential is equivalent to venture capital but the risks are extremely different and diversified. | | | In addition, a relatively small equity investment in the CDO helps finance the purchase of additional collateral, thus overcollateralizing the CDO. |
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http://www.atlanticasset.com/invest/cdos.html
(284 words)
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| | US Credit - Hunting for paper |
| | Collateralized debt obligations are tranched securities issued by a special-purpose vehicle against a diversified pool of cash or synthetic credit exposures, such as asset-backed securities, high-yield bonds, leveraged loans, or even other CDOs. | | | For one, the creation of short-term CDO debt with maturities of one year or less has brought some money-market accounts to the market. | | | In general, the market across all collateral classes is experiencing a firmness that it did not have for most of 2003 due to the increased credit quality of the underlying collateral. |
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http://db.riskwaters.com/public/showPage.html?page=98721
(1936 words)
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| | Collateralized Debt Obligations & Structured Finance |
| | Collateralized Debt Obligations (CDOs) are structured fixed income securities with cash flows linked to the performance of debt instruments. | | | Collateralized Debt Obligations and Structured Finance provides a state-of-the-art look at the exploding CDO and structured credit products market, exploring the types of products offered, predicting the potential for product growth and extinction, and examining securitization topics never before seen in print. | | | Filled with expert advice as well as helpful charts and graphs, Collateralized Debt Obligations and Structured Finance gives you all the information you need to understand and excel in some of the most complex markets in the world. |
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http://defaultrisk.com/bk_cdo_sf.htm
(201 words)
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| | Collateralized Debt Obligation - CDO |
| | CDOs do not specialize in one type of debt but are often non-mortgage loans or bonds. | | | Similar in structure to a collateralized mortgage obligation (CMO) or collateralized bond obligation (CBO), CDOs are unique in that they represent different types of debt and credit risk. | | | In the case of CDOs, these different types of debt are often referred to as 'tranches' or 'slices'. |
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http://www.investopedia.com/terms/c/cdo.asp
(175 words)
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| | Collateralized Debt Obligations |
| | Collateralized debt obligations are privately placed securitizations that were created in the late 1980s. | | | CDO tranches do not resemble their underlying collateral in credit quality or performance. | | | The underlying collateral's cash flows are then used to pay interest and principal on the issued securities. |
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http://accounting.smartpros.com/x20636.xml
(1080 words)
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| | Middle East Open Encyclopedia: Bond |
| | In finance, a bond is a debt security, that is the issuer owes the holders a debt and is obliged to pay the principal and interest (the coupon), together with other obligations under the term of the issue, such as the obligation to give certain information. | | | The issuer is equivalent to the borrower, the bond holder to the lender and the coupon to the interest. | | | Some bonds are callable, meaning that even though the company has agreed to make payments plus interest towards the debt for a certain period of time, the company can choose to pay off the bond early. |
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http://www.baghdadmuseum.org/ref/index.php?title=Bond
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| | SECURITIZATION NEWS : Asset Backed, Structured Finance & Securitisation News |
| | Collateralized debt obligation professionals can use different measures to gauge the potential effect on a CDO equity tranche from changing levels of correlation among the credits in the tranche's underlying portfolio. | | | The vast majority of synthetic structured finance collateralized debt obligations are cash-settled and these require a market valuation process to determine the percentage loss following several types of credit event. | | | Though cash and U.S. Treasury securities are the usual collateral for derivatives transactions, in recent years non-standard collateral (NSC) such as corporate bonds and derivatives of various descriptions has been increasingly used for this purpose. |
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http://www.securitizationnews.com/?page=2&type=13
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| | Amazon.ca: Investing in Collateralized Debt Obligations: Books |
| | CDOs are securities backed by a pool of diversified assets and are referred to as collateralized bond obligations (CBOs) when the underlying assets are bonds and as collateralized loan obligations (CLOs) when the underlying assets are bank loans. | | | Investing in Collateralized Debt Obligations covers not only the fundamental features of these securities and the investment... | | | The fastest growing sector of the asset-backed securities market is the collateralized debt obligation (CDO) market. |
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http://www.amazon.ca/exec/obidos/ASIN/1883249902
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| | Arbor Realty Trust Closes Collateralized Debt Obligation |
| | The notes offered pursuant to the CDO are not registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. | | | The facility has a four-year replenishment period that allows the principal proceeds from repayments of the collateral assets to be reinvested in qualifying replacement assets, subject to certain conditions. | | | As a result, we believe the completion of the CDO enhances our ability to generate earnings and provides a strong foundation for future growth." The offering of the notes evidencing the collateralized debt obligations was made pursuant to a private placement. |
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http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/01-19-2005/0002863565&EDATE=
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| | Blackstone - Mezzanine Financing Group |
| | The Corporate Debt Investments group is led by seasoned professionals with over 75 years of combined experience in senior debt and mezzanine finance. | | | Blackstone Debt Advisors was formed to manage a series of structured vehicles, primarily investing in senior secured loans. | | | Blackstone's Corporate Debt Investments group is composed of two businesses: Blackstone Mezzanine Advisors and Blackstone Debt Advisors. |
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http://www.blackstone.com/dgroup
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| | Business Wire: Capital Lease Funding, Inc. Closes First Collateralized Debt Obligation |
| | The securities offered pursuant to the CDO will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. | | | CapLease received net proceeds in the transaction of approximately $263.1 million, approximately $206.0 million of which was used to repay borrowings under its short-term credit facility and $57.1 of which will be used to fund future investments. | | | "We are delighted that we have closed our first CDO on terms that provide us with both favorable fixed rate financing of our net lease assets for at least 10 years as well as significant flexibility to redeploy and releverage principal within the structure. |
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http://www.findarticles.com/p/articles/mi_m0EIN/is_2005_March_11/ai_n12419038
(492 words)
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| | Securitization.Net |
| | Collateralized debt obligation professionals are asking for greater transparency to help investors identify other participants in deals to make replacing CDO managers easier. | | | Collateralized debt obligation professionals are at odds over the patentability of new structures and vehicles, with collateral managers, originators, analysts and lawyers all sounding off. | | | FleetBoston Financial is preparing to issue a $1 billion collateralized debt obligation. |
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http://www.securitization.net/news/articles.asp?id=395
(2043 words)
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| | Mayer, Brown, Rowe & Maw LLP - CDO - Overview |
| | The CDO Practice Group represents sponsors, arrangers, collateral managers, investors, trustees and rating agencies in its varied CDO practice and frequently is engaged as overall transaction counsel. | | | A broad client base complements the Firm's technical legal expertise, enables the Firm to keep abreast of CDO market developments and provides valuable information regarding market custom and practice, including insights as to appropriate compromises among various parties in interest in CDO transactions. | | | Visit our Transactions section to see a (i) a list of selected CDO transaction clients and (ii) a list of selected Mayer, Brown, Rowe & Maw LLP-advised CDO transactions from June 1997 through December 2004. |
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http://www.mayerbrownrowe.com/cdo
(372 words)
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| | debt obligation |
| | A Collateralised Debt Obligation or CDO is a method of securitising a portfolio of loans or "debt... | | | is a form of Collateralised Debt Obligation in which the assets (the... | | | Information about collateralized debt obligation, payday, payday, rate, collateralized debt obligation... |
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http://www.debt-consolidator-guide.com/debt-obligation
(691 words)
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| | Campbell R. Harvey's Hypertextual Finance Glossary |
| | debt to total capitalization and thus reflect the extent to which a corporation is trading on its | | | The number and the value of issued shares are usually shown, together with the number of shares authorized, in the capital accounts section of the balance sheet. | | | The view that issuing debt is generally valuable, but that the firm's optimal choice of |
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http://www.duke.edu/~charvey/Classes/wpg/bfglosc.htm
(6500 words)
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| | Correlation - the hidden risk in Collateralized Debt Obligations |
| | Beginning Paragraphs: Collateralized Debt Obligations are one of the most interesting innovations of the securitization market in the 90’s. | | | Correlation between debt securities has not been studied so intensely – possibly because debt securities other than US Treasuries are not liquid and have high transactions cost. | | | The attractiveness to investors is determined exactly by the underlying debt and the rules for sharing the risk and return. |
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http://www.defaultrisk.com/pp_corr_03.htm
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| | Global balance-sheet synthetic collateralized debt obligation ( CDO ) market size and top nine arrangers by issue ... |
| | Global top 15 bookrunners of collateralized debt obligations (B12) ranked by proceeds in US dollars and market share in percent for 2001 vs 2000, with each companys number of issues and disclosed fees in dollars, and industry totals | | | Global equity linked debt market size by issue value in US dollars for 2001, with number of issues managed by the top 10 bookrunners ranked by dollar value and percent market share of issues handled | | | Global market size for international euro and yen denominated debt issues by debt issue volume in yen for 2001, with top 10 bookrunners ranked by debt issue volume, with number of issues, and percent issue market share |
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http://www.researchandmarkets.com/reportinfo.asp?report_id=282744
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| | FRB: FEDS paper 2004-36 |
| | Finally, the paper shows how the dependence of CDO tranches on default correlation can also be characterized and measured as an exposure to the business cycle, or as "business cycle risk." A mezzanine tranche, in particular, is highly sensitive to business cycle risk. | | | Abstract: Synthetic collateralized debt obligations, or synthetic CDOs, are popular vehicles for trading the credit risk of a portfolio of assets. | | | The paper goes on to show how CDO tranches and other innovative credit products, such as single-tranche CDOs and first-to-default basket swaps, are sensitive to the correlation of defaults among the credits in the reference portfolio. |
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http://www.federalreserve.gov/pubs/feds/2004/200436/200436abs.html
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| | Securitization.Net |
| | TCW Asset Management is prepping a collateralized debt obligation deal, which mixes asset-backed securities and investment-grade corporate debt in the collateral-a first for TCW. | | | C-Bass is originating its second collateralized debt obligation of the year in a transaction set to price later this week and to close before the end of the month, says a CDO market official...more | | | PIMCO is slated to be the collateral manager of an emerging market collateralized debt obligation...more |
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http://www.securitization.net/news/articles.asp?id=285
(2419 words)
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| | Antares Capital Corporation CLOs - Chicago-based middle market source for debt |
| | This CDO comprises approximately 95% of Bank Loans, with approximately equal allocations to Broadly Syndicated Loans and Middle Market Loans, in addition to 5% of Mezzanine Debt and is managed solely by Antares. | | | This CDO comprises a blend of Middle Market, Broadly Syndicated and Mezzanine Loans, in addition to 5% of Mezzanine Debt and is solely managed by Antares. | | | This CDO comprises a blend of Middle Market, Broadly Syndicated and Mezzanine Loans, in addition to 3% of Mezzanine Debt and is solely managed by Antares. |
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http://www.antareslev.com/Products/CollatDebtObligation.htm
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| | Globeinvestor.com: Prudential Fixed Income Completes Seventh Collateralized Debt Obligation; Transaction brings CDO ... |
| | The most recent transaction in the Dryden series of CDOs was a $425 million deal that closed in late July with a collateral pool of 90 percent bank loans and 10 percent in high yield bonds. | | | The recently CDO issuance follows a $585 million May transaction and continues to build Prudential's assets under management within this asset class. | | | Those transactions total more than $1.8 billion and include four CDO's previously managed by the Bank of Montreal, which exited the CDO business this year. |
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http://www.globeinvestor.com/servlet/WireFeedRedirect?cf=GlobeInvestor/config&vg=BigAdVariableGenerator&date=20040812&archive=bwire&slug=20040812005498
(658 words)
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| | Tavakoli Structured Finance & Collateralized Debt Obligation Operation Risk |
| | In case of default we are getting delivery of the physical asset (underlying reference obligation) so it is not really a synthetic transaction,” he explains. | | | The equity piece of a mezzanine tranche can be a tricky one when it comes to collateralized debt obligations (CDO) documentation. | | | “Whether we are managing or investing in a CDO we have to really understand the accounting treatment of everything about it. |
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http://www.tavakolistructuredfinance.com/isr.html
(2004 words)
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| | Single tranche CDO pricing, Single-tranche CDO pricer |
| | Over-the-counter (OTC) STCDOs are a growing segment of the collateralized debt obligation (CDO) field and a fast, accurate pricing and risk management solution is a market necessity. | | | SciSTCDO is a standalone credit derivatives pricing, risk, calibration and implied correlation engine for single-tranche collateralized debt obligations (STCDO), including standardized tranched indices (e.g., Dow Jones iTraxx). | | | Full-featured, standalone credit derivatives pricing and risk engine for any single-tranche collateralized debt obligation. |
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http://www.scicomp.com/scicmd/scistcdo
(427 words)
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| | Collateralized Debt Obligations |
| | Up to now Collateralized Debt Obligations (CDOs), of which Collateralized Bond Obligations (CBOs) and Collateralized Loan Obligations (CLOs) are two examples, have not been subjected to intense correlation analysis. | | | Abstract A Collateralized Debt Obligation is a correlation product. | | | To determine that they are getting a fair return for this risk, they must be able to measure the correlation risk. |
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http://www.skora.com/cdo.htm
(105 words)
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| | Attorney Bio |
| | has a corporate finance practice, the focus of which has included public and private securities offerings, commercial loan transactions, privately placed investments, debt restructurings and bond transactions. Her practice in recent years has emphasized structured finance transactions in the private debt and equity markets. | | | $292,500,000 asset securitization involving collateralized debt obligation notes secured by a portfolio of investment grade cash flow collateralized debt obligations and high yield corporate debt securities | | | Euro 278,000,000 and $75,000,000 asset securitization involving dual currency collateralized debt obligation notes secured by European and U.S. senior secured and mezzanine loans, European high yield bonds and synthetic securities |
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http://www.gardere.com/Attorneys/Attorney_Bio?id=727
(420 words)
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| | Akin Gump Strauss Hauer Feld & LLP- attorney |
| | Ramsey has been involved in a number of debt restructurings, recapitalizations, structured finance transactions, secured financings and other corporate finance and securities transactions. | | | Kim E. Ramsey's practice focuses on complex business transactions, with an emphasis on debt restructurings, secured lending, structured finance, mergers and acquisitions and public and private debt and equity securities offerings. | | | representation of a public REIT in connection with the recapitalization of approximately $375 million in debt with financing from a secured credit facility (in the form of a repurchase transaction) and equity and senior subordinated debt investments from a real estate fund |
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http://www.akingump.com/attorney.cfm?attorney_id=198
(479 words)
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| | Publisher description for Library of Congress control number 2003265804 |
| | The collateralized debt obligation market has seen explosive growth in the last few years. | | | To help you keep up with the expanding CDO market and its various instruments, Laurie Goodman and Frank Fabozzi have collaborated to bring you Collateralized Debt Obligations: Structures and Analysis. | | | This straightforward and well-rounded resource offers a wealth of practical information on the collateralized debt obligation market and its products. |
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http://www.loc.gov/catdir/description/wiley037/2003265804.html
(150 words)
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| | Third World Debt |
| | Articles and other resources on the third world debt. | | | This Paper outlines some of the basic concepts relating to the issue of Third World debt and provides a brief description of the various debt relief plans that | | | Third World Debt - Scholarly books and articles on Third World Debt at Questia, world's largest online library and research service. |
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http://www.flatinfo.com/debt/third-world-debt
(263 words)
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| | Financial Services Collateralized Debt Obligation - Deloitte & Touche USA LLP |
| | With the rapid innovation in the Collateralized Debt Obligation market, effective management of your CDO program has never been more critical. | | | Drawing on our deep pool of talent and knowledge of the CDO market, we’ve created a powerful, flexible and easy-to-use system to allow collateral managers and trustees to manage all facets of their CDOs. | | | Collateralized Debt Obligation - Deloitte & Touche USA LLP |
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http://www.deloitte.com/dtt/section_node/0,1042,sid=6223,00.html
(366 words)
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| | Structured Financing |
| | We have participated in a wide variety of securitizations, collateralized debt obligations and other structured/derivative financings. | | | In March 1997, we established our structured finance and securitization practice to extend the already broad range of services the firm has traditionally offered to investment banks and other institutional clients in the execution of highly complex financial transactions. | | | David L. Babson and Company, Inc. as collateral manager and Babson CLO Ltd. 2003-I as issuer, in connection with a $300 million collateralized loan obligation transaction |
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http://www.ffhsj.com/practice_groups/structured_fin.htm
(341 words)
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| | Latham & Watkins Online |
| | Investors — As investors in subordinate note and equity positions, in connection with CDO transactions. | | | Banc of America Securities — As underwriter, in connection with arbitrage CDO transactions. | | | Credit Suisse First Boston — As underwriter, in connection with arbitrage and balance sheet CDO transactions. |
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http://www.lw.com/attorney/attorneysearch_profile.asp?attno=03278
(213 words)
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| | McKee Nelson LLP > Practice Areas > Structured Finance |
| | We have also represented numerous asset managers in CDO transactions. | | | A market leader in CDOs, credit derivatives, structured investment vehicles and other structured products, McKee Nelson has created one of the country’s premier structured product practices. | | | We also focus heavily on other structured products where our extensive expertise in federal and international tax, credit derivatives, structured finance technology and transaction execution add significant value. |
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http://www.mckeenelson.com/practiceareas/cdo.cfm
(225 words)
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| | PrincipalGlobal.com - CDO |
| | By selectively entering the market when conditions are optimal and conducting thorough fundamental credit analysis to avoid credit deterioration, Principal strives to achieve the right balance of stable performance for debt investors and attractive returns to equity investors. | | | Principal Global Investors views its Collateralized Debt Obligation (CDO) platform as a natural extension of our expertise in spread lending and investment management. | | | Our Capital Markets team looks forward to helping you achieve your investment needs. |
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http://www.principalglobal.com/cdo
(126 words)
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| | Freshfields Bruckhaus Deringer: US structured finance |
| | Our US-based structured finance team is involved in advising on and developing complex tax-driven products and derivative based transactions, including credit, commodity, equity and insurance derivatives, collateralized debt obligation funds (CDOs), capital raising/arbitrage transactions, securitizations, synthetic securities, repackagings, conduits and future flow transactions. | | | Many transactions are designed to take advantage of cross-border arbitrages, which require access to corporate, securities and tax lawyers in multiple jurisdictions who are familiar with the latest financial technologies. | | | John Hancock Life Insurance Company on the issuance by Signature 6 Limited of approximately $325m of notes, preference shares and combination notes offered through Morgan Stanley and backed by a portfolio of high-yield debt obligations, emerging market debt obligations, senior secured loans, structured finance obligations and certain other securities; and |
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http://www.freshfields.com/places/us/practice/structured.asp
(502 words)
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| | MSN Money - CT Key Developments: Investing |
| | Capital Trust, Inc. announced the closing of a $337.8 million collateralized debt obligation financing (CDO). | | | Capital Trust, Inc. Announces Closing of Second Collateralized Debt Obligation | | | Capital Trust, Inc. Announces Closing Of Third Collateralized Debt Obligation |
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http://news.moneycentral.msn.com/ticker/sigdev.asp?Symbol=CT
(416 words)
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| | Asset Securitization report |
| | Help us identify and honor the most innovative deals in the securitization and Collateralized Debt Obligation marketplace. | | | Asset-backed ECP programs as well as term transactions will be considered. | | | Eligibility: Where applicable, funding and/or program launch must have occurred between November 1, 2003, and October 31, 2004. |
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http://www.asreport.com/deal2004.cfm
(260 words)
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| | Taxpayers Expect Refunds, Will Save or Invest, According to Microsoft and H&R Block Surveys - ... |
| | A large number of survey respondents (33 percent) indicated that the most confusing part of preparing their tax returns is understanding the latest tax law changes. | | | CIT Arranges Senior Debt Facility for the William Osler Health Centre Hospital Facility With a Const | | | FullCircle Registry Announces Conversion of Debt to Shareholder Equity |
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http://debt-consolidationsurvival.com/content/view/1574/2
(8822 words)
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| | Cleary Gottlieb Our Lawyers Joyce E. McCarty |
| | McCarty’s practice focuses on corporate and financial transactions, particularly collateralized debt obligation and other structured finance transactions. | | | She also has extensive experience counseling with respect to environmental matters as they relate to acquisitions, securities offerings, financings, bankruptcy and “Superfund” remediation projects. | | | Joyce E. McCarty is a senior attorney based in the Washington, D.C. office. |
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http://www.cgsh.com/english/lawyers/bio.aspx?id=6670
(173 words)
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| | COLLATERALIZED DEBT OBLIGATION |
| | collateralized debt obligation Fair debt collection practices act. | | | Contributing significantly to this anxiety is waiting for the mortgage to be approved. |
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http://www.geocities.com/grahamvu2003/collateralized-debt-obligation.html
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| | NYSE, New York Stock Exchange > About the NYSE > Listed Companies > Listed Company Directory Triarc Companies Inc. |
| | Deerfield provides asset management services for various types of investment funds, such as collateralized debt obligation vehicles (CDOs) and hedge funds, as well as separate managed accounts. | | | On July 8, 2004, the Company acquired a 25% equity interest in Jurlique International Pty Ltd., a privately held Australian skin and healthcare products company. | | | On July 22, 2004, Triarc completed the acquisition of an approximate 64% capital interest in Deerfield & Company LLC, which, through its subsidiary Deerfield Capital Management LLC (DCM), is a Chicago-based asset manager offering a diverse range of fixed income strategies to institutional investors. |
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http://www.nyse.com/listed/try.html
(224 words)
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| | GlobeSt.com - Wrightwood Raises $650M in Collateralized Debt Issue |
| | CHICAGO-Wrightwood Capital draws strong interest from US and European institutional investors in its debut in the commercial real estate collateralized debt obligation market. | | | GlobeSt.com - Wrightwood Raises $650M in Collateralized Debt Issue |
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http://www.globest.com/news/411_411/chicago/140064-1.html
(40 words)
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| | Collateralized Debt Obligations (CDO) |
| | A way of packaging credit risk is called collateralized Debt obligation. | | | These are then rated and some of them are sold in the market. |
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http://cms.mpi.univie.ac.at/mgajdos/finance/woqf/node35.html
(42 words)
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