The Pipeline for Esoteric ABS

Abstract

Esoteric asset-backed securities (ABS) consist of a broad range of asset types, including cell towers, franchise fee or whole business securitizations, timeshare securitizations, stranded utility cost securitizations, patent royalty securitizations, structured settlement securitizations, music and film royalty securitizations, container securitizations, and tobacco fee securitizations. This panel was organized around a series of questions the panelists thought were timely for the esoteric ABS market sector: How is “esoteric” in esoteric ABS defined? What drives issuers into (or out of) the esoteric ABS market? How can the process of closing non-traditional ABS deals be made more efficient? What drives investors into the esoteric ABS market? How do rating agencies approach esoteric ABS? What are some specific examples of esoteric ABS deals?

TOPICS: Asset-backed securities (ABS), CLOs, CDOs, and other structured credit