Enhanced descriptions from Syndetics:

Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline. It is a convenient reference guide--which covers all the important transaction types in one place--and an excellent opportunity to enhance your understanding of finance.

Table of contents provided by Syndetics

• Preface (p. vii)
• About the Authors (p. xiii)
• Chapter 1 Introduction (p. 1)
• Definition of Structured Finance (p. 1)
• Other Definitions of Structured Finance (p. 2)
• Case Study: How Enron Has Affected the Boundaries of Structured Finance (p. 15)
• Conclusions (p. 22)
• Chapter 2 Interest Rate Derivatives (p. 23)
• Interest Rate Forward and Futures Contracts (p. 23)
• Futures Contracts (p. 24)
• Interest Rate Swaps (p. 26)
• Options (p. 36)
• Caps and Floors (p. 43)
• Chapter 3 Credit Derivatives (p. 45)
• Documentation and Credit Derivative Terms (p. 45)
• Credit Default Swaps (p. 48)
• Credit Default Swap Index (p. 50)
• Basket Default Swaps (p. 51)
• Asset Swaps (p. 54)
• Total Return Swaps (p. 57)
• Economics of a Total Return Swap (p. 58)
• Chapter 4 Basic Principles of Securitization (p. 65)
• What Is a Securitized Transaction? (p. 66)
• Illustration of a Securitization (p. 67)
• Reasons Why Entities Securitize Assets (p. 70)
• Benefits of Securitization to Investors (p. 79)
• What Rating Agencies Look at in Rating Asset-Backed Securities (p. 79)
• Description of the Collateral (p. 82)
• Prepayments Measures (p. 87)
• Defaults and Delinquencies (p. 90)
• Chapter 5 Securitization Structures (p. 95)
• Use of Interest Rate Derivatives in Securitization Transactions (p. 95)
• Credit Enhancement (p. 104)
• More Detailed Illustration of a Securitization (p. 113)
• Chapter 6 Cash Flow Collateralized Debt Obligations (p. 119)
• Family of CDOs (p. 120)
• Basic Structure of a Cash Flow CDO (p. 122)
• CDOs and Sponsor Motivation (p. 124)
• Compliance Tests (p. 127)
• Chapter 7 Synthetic Collateralized Debt Obligation Structures (p. 133)
• Motivations for Synthetic CDOs (p. 134)
• Mechanics (p. 136)
• Funding Mechanics (p. 138)
• Investor Risks in Synthetic Transactions (p. 140)
• Variations in Synthetic CDOs (p. 141)
• The Single-Tranche Synthetic CDO (p. 147)
• Summary of the Advantages of Synthetic Structures (p. 149)
• Factors to Consider in CDO Analysis (p. 150)
• Case Study (p. 151)
• Chapter 8 Securitized and Synthetic Funding Structures (p. 155)
• Commerical Paper (p. 155)
• Asset-Backed Commercial Paper (p. 157)
• Synthetic Funding Structures (p. 162)
• Chapter 9 Credit-Linked Notes (p. 181)
• Description of CLNs (p. 181)
• Illustration of a CLN (p. 182)
• Investor Motivation (p. 182)
• Settlement (p. 182)
• Forms of Credit Linking (p. 184)
• The First-to-Default Credit-Linked Note (p. 190)
• Chapter 10 Structured Notes (p. 193)
• Structured Notes Defined (p. 194)
• Motivation for Investors and Issuers (p. 196)
• Issuance Form and Issuers (p. 197)
• Creating Structured Notes (p. 198)
• Examples of Structured Notes (p. 199)
• Chapter 11 Large Ticket Leasing: Leasing Fundamentals (p. 207)
• How Leasing Works (p. 207)
• Types of Equipment Leases (p. 208)
• Full Payout Leases versus Operating Leases (p. 211)
• Reasons for Leasing (p. 211)
• Types of Lessors (p. 216)
• Lease Brokers and Financial Advisers (p. 217)
• Lease Programs (p. 217)
• Financial Reporting of Lease Transactions by Lessees (p. 218)
• Federal Income Tax Requirements for True Lease Transactions (p. 222)
• Synthetic Leases (p. 224)
• Valuing a Lease: The Lease or Borrow-to-Buy Decision (p. 225)
• Chapter 12 Leveraged Lease Fundamentals (p. 237)
• Parties to a Leveraged Lease (p. 239)
• Structure of a Leveraged Lease (p. 243)
• Closing the Transaction (p. 245)
• Cash Flows During the Lease (p. 246)
• Debt For Leveraged Leases (p. 247)
• Facility Leases (p. 249)
• Construction Financing (p. 252)
• Credit Exposure of Equity Participants (p. 253)
• Tax Indemnification for Future Changes in Tax Law (p. 253)
• Need for a Financial Adviser (p. 254)
• The Steps in Structuring, Negotiating, and Closing a Leveraged Lease (p. 256)
• Chapter 13 Project Financing (p. 259)
• What Is Project Financing? (p. 260)
• Reasons for Jointly Owned or Sponsored Projects (p. 262)
• Credit Exposures in a Project Financing (p. 262)
• Key Elements of a Successful Project Financing (p. 264)
• Causes for Project Failures (p. 265)
• Credit Impact Objective (p. 277)
• Accounting Considerations (p. 279)
• Meeting Internal Return Objectives (p. 282)
• Other Benefits of a Project Financing (p. 282)
• Tax Considerations (p. 283)
• Disincentives to Project Financing (p. 283)
• Recent Trends (p. 284)
• Appendix A The Basel II Framework and Securitization (p. 287)
• Basel Rules (p. 288)
• Impact on Securitization and Credit Derivatives (p. 293)
• Appendix B Synthetic Securitization: Case of Mortgage-Backed Securities (p. 297)
• Transaction Description (p. 297)
• Deal Structures (p. 298)
• Investor Considerations (p. 301)
• Appendix C Home Run! A Case Study of Financing the New Stadium for the St. Louis Cardinals (p. 303)
• Appendix D Municipal Future-Flow Bonds in Mexico: Lessons for Emerging Economies (p. 309)
• Appendix E Crown Castle Towers LLC, Senior Secured Tower Revenue Notes, Series 2005-1 (p. 321)
• Appendix F MVL Film Finance LLC (p. 335)
• Appendix G Presale: Honda Auto Receivables 2006-1 Owner Trust (p. 339)
• Appendix H Presale: ACG Trust III (p. 345)
• Appendix I CNH Equipment Trust 2006-A (p. 355)
• Appendix J CIT Equipment Collateral 2006-VT1 (p. 365)
• Index (p. 373)

Author notes provided by Syndetics