@article {Grushkin76, author = {Jay Grushkin and Dan Bartfeld}, title = {Securitizing Project Finance Loans: Are PF CLOs Poised for a Comeback? }, volume = {19}, number = {3}, pages = {76--81}, year = {2013}, doi = {10.3905/jsf.2013.19.3.076}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Having been pronounced dead by many in 2008, collateralized loan obligations (CLOs) have arisen like a phoenix in the aftermath of the global credit crisis. Meanwhile, there is a serious call for project finance loans to fund exponential growth in infrastructure development needs. Project loans are perhaps the largest class of commercial loans that have not taken an active role in the CLO market, and the CLO provides a mechanism for monetizing this relatively illiquid class of loans. This article discusses the numerous attributes of project finance loans that make them a particularly attractive asset class for CLOs and also those factors that pose challenges to their securitization.TOPICS: Project finance, portfolio construction}, issn = {1551-9783}, URL = {https://jsf.pm-research.com/content/19/3/76}, eprint = {https://jsf.pm-research.com/content/19/3/76.full.pdf}, journal = {The Journal of Structured Finance} }