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B-piece sale

Chinese translation: B类证券上市(销售)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:B-piece sale
Chinese translation:B类证券上市(销售)
Entered by: ShelleyX
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14:22 Aug 27, 2008
English to Chinese translations [PRO]
Bus/Financial - Finance (general)
English term or phrase: B-piece sale
It appears in the context of securitization profit of a CMBS deal.

Along with {B-piece sale} are A-piece sale, initial underwriting, etc.

But I've no idea what it is...

Anyone can help? Thanks a lot!
ShelleyX
Australia
Local time: 10:18
B类证券上市(销售)
Explanation:
From the link given by karcsy:
Usually the securitizing agent issues
bonds or short-term commercial paper
backed by the pooled loans. The securities
are often sold as "A piece"/ "B piece"
structured debt instruments. This process
involves the division of the debt into senior
("A piece") and subordinate ("B piece")
tranches; the A piece is often attractive to
institutional investors, while the more risky
B piece, either retained by the lender or
purchased by less risk-averse investors,
absorbs most of the credit risk from the
commercial loans.
Selected response from:

Arthly
China
Local time: 08:18
Grading comment
Thanks to you all!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3B类证券上市(销售)
Arthly
3B型债券的拍卖
karcsy


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
b-piece sale
B型债券的拍卖


Explanation:
description of a-peice, b-piece canbe seen at the linkbelow. Although is can be a structured debt security, but to play safe,I suggest just translate as 债券 and not 结构性债券.


[PDF] Communities and Banking, Summer 1998File Format: PDF/Adobe Acrobat - View as HTML
the sale of securities backed by small business and even. microenterprise loans. ..... are often sold as "A piece"/ "B piece". structured debt instruments. ...
www.bos.frb.org/commdev/c&b/1998/summer98.pdf - Similar pages

karcsy
Local time: 08:18
Works in field
Native speaker of: Native in ChineseChinese
PRO pts in category: 102
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4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
b-piece sale
B类证券上市(销售)


Explanation:
From the link given by karcsy:
Usually the securitizing agent issues
bonds or short-term commercial paper
backed by the pooled loans. The securities
are often sold as "A piece"/ "B piece"
structured debt instruments. This process
involves the division of the debt into senior
("A piece") and subordinate ("B piece")
tranches; the A piece is often attractive to
institutional investors, while the more risky
B piece, either retained by the lender or
purchased by less risk-averse investors,
absorbs most of the credit risk from the
commercial loans.



    Reference: http://recklessboy.blog.163.com/blog/static/6518732200831095...
Arthly
China
Local time: 08:18
Specializes in field
Native speaker of: Native in ChineseChinese
PRO pts in category: 8
Grading comment
Thanks to you all!
Login to enter a peer comment (or grade)




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