Abstract

This panel covered how collateralized loan obligations (CLOs) are similar or different from collateralized debt obligations (CDOs) and other ABS products, the inherent CLO liquidity premium, how value is analyzed across a CLO’s capital structure, how to distinguish between values in the primary (new issue) and secondary CLO markets, whether various CLOs today seem rich or cheap, risks related to differences in CLO documentation across different deals, and how CLO equity compares to other alternative investments.

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