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- Credit-linked_note abstract "A credit linked note (CLN) is a form of funded credit derivative. It is structured as a security with an embedded credit default swap allowing the issuer to transfer a specific credit risk to credit investors. The issuer is not obligated to repay the debt if a specified event occurs. This eliminates a third-party insurance provider.It is issued by a special purpose company or trust, designed to offer investors par value at maturity unless the referenced entity defaults. In the case of default, the investors receive a recovery rate. The trust will also have entered into a default swap with a dealer. In case of default, the trust will pay the dealer par minus the recovery rate, in exchange for an annual fee which is passed on to the investors in the form of a higher yield on their note.The purpose of the arrangement is to pass the risk of specific default onto investors willing to bear that risk in return for the higher yield it makes available. The CLNs themselves are typically backed by very highly rated collateral, such as U.S. Treasury securities. The Italian dairy products giant, Parmalat, notoriously dressed up its books by creating a credit-linked note for itself, betting on its own credit worthiness.In Hong Kong and Singapore, credit-linked notes have been marketed as "minibonds" and sold to individual investors. After Lehman Brothers, the major issuer of minibond in Hong Kong and Singapore, filed for bankruptcy in September 2008, many retail investors of minibonds claim that banks and brokers mis-sold minibonds as low-risk products. Many banks accepted minibonds as collateral for loans and credit facilities.".
- Credit-linked_note wikiPageID "1437494".
- Credit-linked_note wikiPageRevisionID "603310394".
- Credit-linked_note hasPhotoCollection Credit-linked_note.
- Credit-linked_note subject Category:Corporate_finance.
- Credit-linked_note subject Category:Fixed_income_securities.
- Credit-linked_note subject Category:Notes_(finance).
- Credit-linked_note type Abstraction100002137.
- Credit-linked_note type Attribute100024264.
- Credit-linked_note type Communication100033020.
- Credit-linked_note type Condition113920835.
- Credit-linked_note type Evidence106643408.
- Credit-linked_note type FixedIncomeSecurities.
- Credit-linked_note type Indication106797169.
- Credit-linked_note type Note106504462.
- Credit-linked_note type Notes.
- Credit-linked_note type Record106647206.
- Credit-linked_note type Safety114538472.
- Credit-linked_note type Security114539268.
- Credit-linked_note type State100024720.
- Credit-linked_note type WrittenRecord106502378.
- Credit-linked_note comment "A credit linked note (CLN) is a form of funded credit derivative. It is structured as a security with an embedded credit default swap allowing the issuer to transfer a specific credit risk to credit investors. The issuer is not obligated to repay the debt if a specified event occurs. This eliminates a third-party insurance provider.It is issued by a special purpose company or trust, designed to offer investors par value at maturity unless the referenced entity defaults.".
- Credit-linked_note label "Credit Linked Note".
- Credit-linked_note label "Credit linked note".
- Credit-linked_note label "Credit-linked note".
- Credit-linked_note label "Кредитная нота".
- Credit-linked_note label "信貸掛鉤票據".
- Credit-linked_note sameAs Credit_Linked_Note.
- Credit-linked_note sameAs Credit_linked_note.
- Credit-linked_note sameAs m.051h79.
- Credit-linked_note sameAs Q1139416.
- Credit-linked_note sameAs Q1139416.
- Credit-linked_note sameAs Credit-linked_note.
- Credit-linked_note wasDerivedFrom Credit-linked_note?oldid=603310394.
- Credit-linked_note isPrimaryTopicOf Credit-linked_note.