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dc.contributor.authorFranke, Günteren_US
dc.contributor.authorHein, Juliaen_US
dc.date.accessioned2009-09-16en_US
dc.date.accessioned2010-05-14T12:00:44Z-
dc.date.available2010-05-14T12:00:44Z-
dc.date.issued2007en_US
dc.identifier.piurn:nbn:de:bsz:352-opus-116616-
dc.identifier.urihttp://hdl.handle.net/10419/32185-
dc.description.abstractA 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.en_US
dc.language.isoengen_US
dc.publisherCoFE Konstanzen_US
dc.relation.ispartofseriesDiscussion paper series // Zentrum für Finanzen und Ökonometrie, Universität Konstanz 2007,09en_US
dc.subject.jelG10en_US
dc.subject.jelG21en_US
dc.subject.jelG24en_US
dc.subject.ddc330en_US
dc.subject.keywordsecuritisationen_US
dc.subject.keywordmiddle market transactionsen_US
dc.subject.keywordmezzanine loansen_US
dc.subject.keywordmedium-sized enterprisesen_US
dc.subject.keywordjunior trancheen_US
dc.titleSecuritisation of mezzanine capital in Germanyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn608930458en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CoFE-Diskussionspapiere, Universität Konstanz

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