Concept information
Preferred term
collateralized loan obligations
Definition
- A collateralized loan obligation (CLO) is a debt security, a promissory note, with a pool of commercial loans as its collateral. The backing of the promise of the borrower to repay the loan is guaranteed by debt instruments they own. [Source: Encyclopedia of Business in Today's World; Collateralized Loan Obligations]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/collateralized_loan_obligations
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