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Sedna Finance
Sedna Finance was an SIV managed by Citi group. It was notable for being the first modern 3 tier structured SIV. It was not, however, the first 3 tier SIV, as much older SIV's such as Asset Backed Capital (now Orion Finance) used 3 tier structures; these old structures used much larger proportions of junior capital to mezzanine capital In finance, mezzanine capital is any subordinated debt or preferred equity instrument that represents a claim on a company's assets which is senior only to that of the common shares. Mezzanine financings can be structured either as debt (typicall .... As of 2007 it had a balance sheet of approximately $10bn. December 5, 2007, By Sam Jones, FT Alphaville It was shut down i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structured Investment Vehicle
A structured investment vehicle (SIV) is a non-bank financial institution established to earn a credit spread between the longer-term assets held in its portfolio and the shorter-term liabilities it issues. They are simple credit spread lenders, frequently "lending" by investing in securitizations, but also by investing in corporate bonds and funding by issuing commercial paper and medium term notes, which were usually rated AAA until the onset of the financial crisis. They did not expose themselves to either interest rate or currency risk and typically held asset to maturity. SIVs differ from asset-backed securities and collateralized debt obligations (CDOs) in that they are permanently capitalized and have an active management team. They are generally established as offshore companies and so avoid paying tax and escape the regulation that banks and finance companies are normally subject to. In addition, until changes in regulations around 2008, they could often be kept of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citi Group
Citigroup Inc. or Citi ( stylized as citi) is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Citigroup is incorporated in Delaware. Citigroup is the third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banking institutions of the United States. It is considered a systemically important bank by the Financial Stability Board and is commonly cited as being too big to fail. It is one of the nine global investment banks in the Bulge Bracket. Citigroup is ranked 33rd on the ''Fortune'' 500 as of 2021. Citigroup has approximately 200 million ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orion Finance
Orion () may refer to: Common meanings * Orion (constellation), named after the mythical hunter * Orion (mythology), a hunter in Greek mythology * Orion (spacecraft), NASA crew vehicle first launched in 2022 Arts and media Fictional entities Characters and species * Orion (character), a DC Comics character * Orion (''Star Trek''), a sentient alien species * Orion, code name of Stephen J. Bartowski on the television show ''Chuck'' * Orion, in the fighting game ''Brawlhalla'' * Orions, a race in the '' Starfire'' board game and book series * Orion, a character from ''Power Rangers Super Megaforce'' * Captain Orion, in the Japanese series '' X-Bomber'' Vessels * ''Orion'', a spaceplane in the film ''2001: A Space Odyssey'' * ''Orion'', a spaceship in '' Raumpatrouille Orion'' (''Space Patrol Orion'' in English), the first German science fiction television series * ''"Orion"''-class spaceship, on the television series ''Ascension'' Literature * ''Orion'', an 1843 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mezzanine Capital
In finance, mezzanine capital is any subordinated debt or preferred equity instrument that represents a claim on a company's assets which is senior only to that of the common shares. Mezzanine financings can be structured either as debt (typically an unsecured and subordinated note) or preferred stock. Mezzanine capital is often a more expensive financing source for a company than secured debt or senior debt. The higher cost of capital associated with mezzanine financings is the result of it being an unsecured, subordinated (or junior) obligation in a company's capital structure (i.e., in the event of default, the mezzanine financing is only repaid after all senior obligations have been satisfied). Additionally, mezzanine financings, which are usually private placements, are often used by smaller companies and may involve greater overall levels of leverage than issues in the high-yield market; they thus involve additional risk. In compensation for the increased risk, mezza ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
