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sponsored collaterelized bond obligations

German translation: gesponserte CBO-Emissionen

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:sponsored collateralized bond obligations
German translation:gesponserte CBO-Emissionen
Entered by: Steffen Walter
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14:14 Jun 5, 2002
English to German translations [PRO]
Bus/Financial - Investment / Securities / investment
English term or phrase: sponsored collaterelized bond obligations
XXX & YYY raised more than $ x billion in sponsored CBOs in 2001. The firms worked with ZZZ and its other affiliates to raise equity for these CBOs.

TIA
Lydia Molea
Germany
Local time: 03:35
gesponserte CBO-Emissionen
Explanation:
The problem here is that CBOs are a very specific form of securitisation: CBOs are "repackaged" junk bonds, i.e. non-investment-grade bonds are used to collateralise a bond which has investment-grade quality (usually due to over-collateralisation and/or other credit-enhancing measures). Therefore, I would not attempt to translate that term - a proficient audience will know what a CBO is, and those who don't know the concept will not understand a German term without lengthy explanations.

Not 100% sure about "sponsored"; I guess it refers to a market-making obligation undertaken by the issuing house, but that should be evident in the context.
Selected response from:

Ralf Lemster
Germany
Local time: 03:35
Grading comment
Once again, I wish I could give everyone KudoZ! Thank you! I knew I could count on my colleagues!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +1gesponserte CBO-Emissionen
Ralf Lemster
3protegierte/verbürgte Collateralized Bond Obligations
Andreas Pompl


  

Answers


15 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
gesponserte CBO-Emissionen


Explanation:
The problem here is that CBOs are a very specific form of securitisation: CBOs are "repackaged" junk bonds, i.e. non-investment-grade bonds are used to collateralise a bond which has investment-grade quality (usually due to over-collateralisation and/or other credit-enhancing measures). Therefore, I would not attempt to translate that term - a proficient audience will know what a CBO is, and those who don't know the concept will not understand a German term without lengthy explanations.

Not 100% sure about "sponsored"; I guess it refers to a market-making obligation undertaken by the issuing house, but that should be evident in the context.

Ralf Lemster
Germany
Local time: 03:35
Specializes in field
Native speaker of: German
PRO pts in category: 1394
Grading comment
Once again, I wish I could give everyone KudoZ! Thank you! I knew I could count on my colleagues!

Peer comments on this answer (and responses from the answerer)
agree  xxxDr.G.MD
8 mins
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
protegierte/verbürgte Collateralized Bond Obligations


Explanation:
... - CBOs (hochspekulative Sammelanleihe)

ob protegiert oder verbürgt hängt freilich vom Kontext ab.

Nur ein Versuch!

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Note added at 2002-06-05 17:27:06 (GMT)
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http://www.investopedia.com/terms/c/cbo.asp

Andreas Pompl
Germany
Local time: 03:35
Specializes in field
Native speaker of: German
PRO pts in category: 8
Login to enter a peer comment (or grade)




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