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High-Volatility CRE

It stands for high-volatility commercial real estate (HVCRE); a loan (credit facility) that is extended for financing of the acquisition,...

MacPPP

A price index (introduced by The Economist in 1986) that uses the McDonald's Big Mac sandwich as a bundle of...

OAS

It stands for option-adjusted spread; the credit spread that is added over the spot rates (the Treasury spot rate curve,...

MYRAs

MYRA stands for multiyear restructuring agreement; a bank debt rescheduling tool, originally introduced in 1984-1985, which provides creditor banks of...

SGR

It stands for sustainable growth rate; the rate at which a company can organically expand without having to change its...

CDO

It stands for collateralized debt obligation; an investment-grade bond that is backed by a pool of variously-rated debt obligations including...

CTD

It stands for cheapest to deliver; a procedure which is used to find out which debt instrument (government bonds, corporate...

BRC

It stands for barrier reverse convertible; a reverse convertible that entails that the holder gives up the potential upside exposure...

CMBS Interest Only

It stands for commercial mortgage-backed securities (CMBS) interest only (IO). These IOs (stripped mortgage products) are coupons stripped from an...

CMBS IO

It stands for commercial mortgage-backed securities (CMBS) interest only (IO). These IOs (stripped mortgage products) are coupons stripped from an...