A rules-based priority of payments module that provides flexible, user-configurable priority of payments calculations for collateralized loan obligation (CLO) collateral managers and trustees.
Solvas|PoP provides the capability to design priority of payments as a complement to the Solvas|Portfolio™, and Solvas|Compliance™ collateral administration and compliance functionality. Constructed to seamlessly integrate with these systems, Solvas|PoP:
- Allows the typical business user to model all priority of payments (including interest, principal, liquidation and acceleration) using a set of specialized calculation templates
- Utilizes calculation capabilities and other features of the Solvas|Compliance calculation engine including variables, calculation blocks and entity level user-defined fields
- Provides the ability to apply separate logical and timing conditions to any payment to customize the payment sequence as required by the indenture (including date applicability and criteria applicability)
- Has the ability to define and re-use payment groups to model complex payment sequences and distribution scenarios easily
- Includes specialized overcollateralization and interest coverage test calculators that have the ability to calculate and apply cures for failed tests
- Allows accrual and tracking of various fees and expenses necessary to model payments and payment caps
- Executes applicable priorities of payments as part of the calculation sequence, either on demand or automatically
- Provides summary and detailed waterfall results with the ability to drill into the calculation details of any payment
- Facilitates the comparison of waterfall results to any current, historical, or hypothetical portfolio created with a trading scenario in Solvas|Compliance
Solvas|PoP brings a flexible and user-friendly priority of payments and waterfall calculation technology to CLO managers and trustees.
Deloitte & Touche LLP
+1 212 436 5387
Deloitte & Touche Projects SARL
+44 20 7303 7145
Complementary products and services:
- Solvas|Accounting™ – A financial accounting and reporting software package for portfolios of financial instruments for investment managers and fund administrators.
- Solvas|Agent™ – An administration and reporting system to support the activities of loan administrative agents.
- Solvas|Compliance™ – A rules-based compliance engine that provides flexible, user-configurable calculations for CLO collateral managers/trustees and alternative investment managers.
- Solvas|Portfolio™ – A multi-asset class portfolio administration and reporting solution for asset managers, alternative investment funds, trustees, and fund administrators.
- Solvas|Data™ – A bank loan data processing service for use with Solvas|Portfolio™ to help eliminate the need for clients to input agent notices.
- Solvas|Hosting™ – A cloud-based hosting platform for Deloitte’s Financial Technology™ products.
Solvas™, Solvas|Accounting™, Solvas|Agent™, Solvas|Compliance™, Solvas|Portfolio™, Solvas|PoP™, Solvas|Hosting™, Solvas|Data™, and Financial Technology™ are trademarks of Deloitte Development LLC, a subsidiary of Deloitte LLP, and are licensed/provided to clients by Deloitte & Touche Products Company LLC, a subsidiary of Deloitte & Touche LLP.
As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.