Collateralised Debt Obligations for Lawyers

At the end of this course delegates will have an understanding of the structured nature of this specific asset backed security, the use of credit derivative enhancements and the risks and opportunities that CDOs represent.

Course Content:

Introduction
 Recap on Securitisation principles

Overview of the CDO market
 What is a CDO, how does it differ from ordinary securitisation
 Development of the CDO market and synthetic structures
 The practicalities of creating a CDO.

Structuring a CDO
 Choosing the tranche structures
 Risk/reward profiles
 The role of the rating agency

Enhancements
 Using Credit Derivatives to replace or enhance the asset pool
 Credit Default Swaps
 Total Return Swaps

Refining the structure
 Variations of Collateralised Debt Obligations (CDOs)
 Synthetic Collateralised Debt Obligations (SCDOs).
 CDO squared
 Coping with an event of default or variation (restructuring / takeover)

Delivery:	Classroom
Regions:	London
Category:	Debt and Recession