Publikation:

Securitisation of Mezzanine Capital in Germany

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cofe_dp07_09.pdf
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Datum

2007

Autor:innen

Hein, Julia

Herausgeber:innen

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http://nbn-resolving.de/urn:nbn:de:bsz:352-opus-116616
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Internationale Patentnummer

Link zur Lizenz
Attribution-NonCommercial-NoDerivs 2.0 Generic

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Open Access-Veröffentlichung
Open Access Green

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Wirtschaftswissenschaften: Publikationen
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Gesperrt bis

Titel in einer weiteren Sprache

Publikationstyp
Working Paper/Technical Report
Publikationsstatus
Published

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Zusammenfassung

A recent trend in the German Asset Backed Securities (ABS) market is the securitisation of subordinated loans and profit participation agreements (PPAs) granted to medium-sized enterprises (MEs). This paper provides an overview of this growing market and analyses the benefits of such transactions for the portfolio companies as well as originators and potential investors. Simulations of ten recent transactions indicate that despite of relatively low interest rates charged on obligors, originators and investors can earn attractive returns at fairly low risk. In particular, the junior tranches of these securitisations exhibit quite attractive risk-return profiles.

Zusammenfassung in einer weiteren Sprache

Fachgebiet (DDC)
330 Wirtschaft

Schlagwörter

securitisation, middle market transactions, mezzanine loans, medium-sized enterprises, junior tranche

Konferenz

Rezension
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Forschungsvorhaben

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Zeitschriftenheft

Zugehörige Datensätze in KOPS

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ISO 690FRANKE, Günter, Julia HEIN, 2007. Securitisation of Mezzanine Capital in Germany
BibTex
@techreport{Franke2007Secur-11950,
  year={2007},
  series={CoFE-Diskussionspapiere / Zentrum für Finanzen und Ökonometrie},
  title={Securitisation of Mezzanine Capital in Germany},
  number={2007/09},
  author={Franke, Günter and Hein, Julia}
}
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