Risky business: Is securities restructuring the answer to problem portfolios?
Restructurers roll boulders uphill
Synthetic restructuring a question of price
Restructuring: How not to do it
According to Soren Willemann and Matthew Leeming, analysts at Barclays Capital, investors that want to unwind synthetic CDO portfolios face essentially three options. They can unwind the structure and use the proceeds to add subordination to the remaining investment, sell the principal-only part of the CDO and use the proceeds to increase the interest-only coupon (or the reverse) or sell the CDO and use the proceeds to buy index products with the same notional exposure.
The...
Please log in now to view.
Enter your username (email address) and password at the top right-hand side of euromoney.com.
If you do not currently have access to this content, visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30%
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
- 12 months access in print and online - on euromoney.com, read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 1996
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe