Wiktionary
collateralized loan obligation
n. (context finance English) a form of securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches
Wikipedia
Collateralized loan obligation
Collateralized loan obligations (CLOs) are a form of securitization where payments from multiple middle sized and large business loans are pooled together and passed on to different classes of owners in various tranches. A CLO is a type of collateralized debt obligation.