A loan in the form of tradable security with returns linked to the market/index issued as per the relevant SEBI guidelines.
Commercial papers (CPs)
A loan in the form of tradable security with tenure less than one year issued as per the relevant SEBI guidelines.
External commercial borrowings ('ECBs')
A loan denominated in foreign currency issued by a foreign entity as per the relevant RBI guidelines.
Sub-debt products
A quasi-equity loan where the creditor will be subordinated to all other lenders and the debtor can use it to leverage like equity.
Guarantee-Backed Lending
A loan/debenture credit enhanced by a guarantee for a particular amount.
The Single Issuer Partial Credit Enhanced (SPiCE®) Loans and Bonds
A loan/debenture partially backed by a third party guarantor.
Pooled loan and bond issuance programme
A security backed by cashflows from loans or bonds of multiple originators.
Rated Securitisation
A security backed by cash flows of underlying loans or right to receive fixed cashflows (for example, loans or invoices or lease agreements) which are also rated on the back of the available credit enhancement.
Multi-Originator Securitization (MOSEC®)
Securities backed by cash flows of underlying loans originated by multiple originators which are rated on the back of the available credit enhancement.
Persistent Securitizations (PERSEC®)
Securities backed by cash flows of underlying loans whose proceeds are reinvested as per pre-agreed rules at closing of the transaction. This allows Originator Partners to raise longer term liability against short-tenure assets.
Direct Assignment
Cash flows from instruments (usually loans) will be assigned to the Originator Partner in a ratio which is determined at the beginning of the transaction.
A security backed by cash flows of underlying loans or right to receive fixed cashflows (for example, loans or invoices or lease agreements) which are also rated on the back of the available credit enhancement.
Securities backed by cash flows of underlying loans originated by multiple originators which are rated on the back of the available credit enhancement.
Securities backed by cash flows of underlying loans whose proceeds are reinvested as per pre-agreed rules at closing of the transaction. This allows Originator Partners to raise longer term liability against short-tenure assets.
Cash flows from instruments (usually loans) will be assigned to the Originator Partner in a ratio which is determined at the beginning of the transaction.
