作者: Matthew Mayers , David Rosenwaks , Joshua Siegel
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摘要: A financial securitization transaction, such as a collateralized debt obligation (CDO) that (i) is at least partially by plurality of net lease assets where the tenants to leases are institutions generally with less than $10 billion, and (ii) may not be fully assets, in which case remainder collateral for consist predominantly obligations (including trust preferred securities, and/or surplus notes) institutions, traunches CDOs backed obligations. By restricting remaining predominately or tranches obligations, more favorable ratings obtainable from agencies securities assets. In accordance an important aspect present invention, rely on aggregate pooled credit quality multiple backing various geographic diversity instead explicit investment any one individual obligors pool. another opposed typical 5%-10% recovery rate assumed traditional institution used CDO transactions, property, translates into materially higher rate, example, excess 40%. Through mechanism balloon payment provider (which also invention), do require residual value insurance need equity capital significantly reduced even eliminated.