A CLO (collateralized loan obligation) is a type of CDO (collateralized debt obligation) (see Investment Glossary for full definition). Other CDO types include CBOs (collateralized bond obligation) and CMOs (collateralized mortgage obligation). CLO and CDO may be used interchangeably, but CDO is a more general term. Because CBOs are now so rare, almost all corporate (i.e. company debt) cash CDOs are CLOs.