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Article: Market Value CDOs, CLOs Pick Up Steam In European Market.(collateralized debt obligation )
- Article from:
- Bank Loan Report
- Article date:
- October 31, 2005
- Author:
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The market value collateralized debt obligation (CDO), a structure that had virtually disappeared from sight in the European financial marketplace over recent years, has reappeared. Sources say that these vehicles, which now come equipped with a range of new attributes they did not have in the past, are greatly in demand from an eager investor base, and going forward, issuance is expected to pick up.
Market value CDOs - which differ from their par-based, cashflow counterparts in that their value is linked to the market value of a diversified pool of underlying assets - went out of style in the late 1990s after severe price volatility in the credit markets put ...
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