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2#
发表于 2013-8-16 11:15
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For a balance sheet CDO, the company already has a loan on their balance sheet and wants to remove their exposure. Whether they make a positive spread isn’t the objective; the objective is to remove the loan exposure.
For an arbitrage CDO, the company doesn’t have an existing loan, but believes it can lend money at a higher rate than it will have to pay on the CDO. The objective is to make a positive spread. |
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