Asset Securitization, Securities Issuance,and Participation Certificates

Abstract

Asset securitization has undoubtedly become an important financing tool in recent times for companies of all types and sizes, adapting to different structures, needs, and circumstances. However, it is common for these to be bond issues or debt instruments, with the use of participation certificates being rather residual. This paper will attempt to explain how participation certificates issued in the context of securitization processes work and what advantages they offer in certain circumstances.