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credit-wrapped bonds

Spanish translation: emisiones de bonos con seguro de pago

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:credit-wrapped bonds
Spanish translation:emisiones de bonos con seguro de pago
Entered by: patinba
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17:13 Nov 18, 2013
English to Spanish translations [PRO]
Bus/Financial - Finance (general)
English term or phrase: credit-wrapped bonds
The text is the following:

Traditionally project financing was provided by commercial lenders.
However, as projects became more complex and financial markets more sophisticated project finance also developed.
In addition, as well as bank borrowings sponsors are also using more sophisticated products like ***credit wrapped bonds***, securitisation of future cash flows and political, technical and completion risk insurance to provide a portion of the necessary finance.
In assessing bankability lenders will look at a range of factors and assess a contract as a whole.
Therefore, in isolation it is difficult to state whether one approach is or is not bankable.

At this link
http://www.google.com.cu/url?sa=t&rct=j&q=&esrc=s&source=web...

I found the explanation of what it is:

Credit wrapping is a type of credit enhancement whereby a bond insurer guarantees to meet
interest and principal payments if the issuer cannot. In Australia, credit wrapping is primarily
used by lower-rated (generally BBB) investment-grade corporates – typically airports, utilities
and infrastructure related issuers – to obtain a higher rating on their bonds. This is because the
rating of a credit-wrapped bond is generally set at the higher of the insurer or issuer’s rating.
It also enables issuers to issue at longer maturities and lower spreads than otherwise. Very few
structured credit products, such as asset-backed securities, are credit-wrapped in Australia, in
contrast to the United States.

But I'm really at odds on how to translate it.
Alberto Montpellier
Cuba
emisiones de bonos con seguro de pago
Explanation:
Es eso, no?

Algunos ILS cuentan con la participación de una aseguradora de crédito. Numerosas titulizaciones de vida incluyen una protección crediticia, en la que un asegurador de bonos (a menudo denominado “monorramo” o “ wrapper”) garantiza el pago de los intereses y del principal de los títulos subyacentes. La garantía respalda el título con una calificación alta (generalmente AAA). La compañía emisora abona una prima al asegurador de los bonos a cambio de la mejora crediticia, conocida como “ credit wrap”.
Selected response from:

patinba
Argentina
Local time: 10:08
Grading comment
muchas gracias, saludos
4 KudoZ points were awarded for this answer

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Summary of answers provided
3emisiones de bonos con seguro de pagopatinba


  

Answers


22 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
emisiones de bonos con seguro de pago


Explanation:
Es eso, no?

Algunos ILS cuentan con la participación de una aseguradora de crédito. Numerosas titulizaciones de vida incluyen una protección crediticia, en la que un asegurador de bonos (a menudo denominado “monorramo” o “ wrapper”) garantiza el pago de los intereses y del principal de los títulos subyacentes. La garantía respalda el título con una calificación alta (generalmente AAA). La compañía emisora abona una prima al asegurador de los bonos a cambio de la mejora crediticia, conocida como “ credit wrap”.

patinba
Argentina
Local time: 10:08
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1211
Grading comment
muchas gracias, saludos
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Changes made by editors
Nov 25, 2013 - Changes made by patinba:
Created KOG entryKudoZ term » KOG term


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