Book description
A step-by-step guide to implementing and closing securitization transactions
Securitization is still in wide use despite the reduction in
transactions. The reality is that investors and institutions continue
to use this vehicle for raising funds and the demand for their use
will continue to rise as the world's capital needs increase.
The Mechanics of Securitization specifically analyzes and
describes the process by which a bank successfully implements and
closes a securitization transaction in the post subprime era. This
book begins with an introduction to asset-backed securities and takes
you through the historical impact of these transactions including the
implications of the recent credit crisis and how the market has changed.
- Discusses, in great detail, rating agency reviews, liaising with
third parties, marketing the deals, and securing investors
- Reviews due diligence and cash flow analysis techniques
- Examines credit and cash considerations as well as how to list
and close deals
- Describes the process by which a bank will structure and
implement the deal, and how the process is project managed and
tested across internal bank departments
While securitization transactions have been taking place for over
twenty-five years, there is still a lack of information on exactly how
they are processed successfully. This book will put you in a better
position to understand how it all happens, and show you how to
effectively implement an ABS transaction yourself.
Suleman Baig works with the credit structuring team at Deutsche
Bank AG in London. He has extensive experience dealing with first-time
issuers and has structured a number of securitization transactions
(both agency and principal) in a variety of asset classes and
jurisdictions. Suleman graduated with a degree in mathematics from the
London School of Economics.
Moorad Choudhry is Treasurer, Corporate Banking Division at the
Royal Bank of Scotland, and visiting professor in the Department of
Mathematical Sciences, Brunel University. He is on the editorial board
of the Journal of Structured Finance and a member of the
editorial advisory board of American Securitization.
