RT Journal Article
SR Electronic
T1 Securitizing Project Finance Loans: <em>Are PF CLOs</em>
	       <br/>
               <em>Poised for a Comeback?</em>
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 76
OP 81
DO 10.3905/jsf.2013.19.3.076
VO 19
IS 3
A1 Grushkin, Jay
A1 Bartfeld, Dan
YR 2013
UL http://jsf.pm-research.com/content/19/3/76.abstract
AB Having been pronounced dead by many in 2008, collateralized loan obligations (CLOs) have arisen like a phoenix in the aftermath of the global credit crisis. Meanwhile, there is a serious call for project finance loans to fund exponential growth in infrastructure development needs. Project loans are perhaps the largest class of commercial loans that have not taken an active role in the CLO market, and the CLO provides a mechanism for monetizing this relatively illiquid class of loans. This article discusses the numerous attributes of project finance loans that make them a particularly attractive asset class for CLOs and also those factors that pose challenges to their securitization.TOPICS: Project finance, portfolio construction