Spanish translation: aplicar como aportación a la obligación garantizada
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
seed (the CLO)
aplicar como aportación a la obligación garantizada
English to Spanish translations [PRO] Bus/Financial - Finance (general) / credit
English term or phrase:seed (the CLO)
Conflicts potentially exist:
Warehousing/Ramp up: Sale of initial portfolio to Kestrel
Sourcing of assets into CLO or Balance Sheet
Sale of credit impaired assets
Initial Portfolio is constructed by taking off predominantly B, C and Mezz loans from the balance sheet to seed the CLO and retaining revolvers and A tranches.
Approval process is similar for balance sheet and CLO. Allocation to CLO will be done on a case by case basis by WLB-LF acting in good faith and on an arm’s length basis.
If sale decision of impaired asset is taken both positions (CLO and B/S) will be liquidated. If bids obtainable are less than for total holding pro rata attribution will be made.