WarrenB1

It is just a matter of preferences.

I as an investor may want to lend money and may NOT want to receive any interim payments. Ofcourse, at maturity I will want all accrued interest and principal. And receiving all amount at maturity is not called reinvestment risk.

And you as an investor, may want to lend money and want to receive regular cash flows from it.

So, you as an investor may want to buy a Senior tranche and i as am investor would want to buy an accrual tranche.