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dc.contributor.authorFranke, Günteren
dc.contributor.authorHein, Juliaen
dc.date.accessioned2009-09-16-
dc.date.accessioned2010-05-14T12:00:44Z-
dc.date.available2010-05-14T12:00:44Z-
dc.date.issued2007-
dc.identifier.piurn:nbn:de:bsz:352-opus-116616en
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
dc.language.isoengen
dc.publisher|aUniversity of Konstanz, Center of Finance and Econometrics (CoFE) |cKonstanzen
dc.relation.ispartofseries|aCoFE Discussion Paper |x07/09en
dc.subject.jelG10en
dc.subject.jelG21en
dc.subject.jelG24en
dc.subject.ddc330en
dc.subject.keywordsecuritisationen
dc.subject.keywordmiddle market transactionsen
dc.subject.keywordmezzanine loansen
dc.subject.keywordmedium-sized enterprisesen
dc.subject.keywordjunior trancheen
dc.titleSecuritisation of mezzanine capital in Germany-
dc.type|aWorking Paperen
dc.identifier.ppn608930458en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cofedp:0709-

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