1998: from this date, several CLOs and (later) synthetic CLO issues have occurred. Details here
In synthetic CLOs, the credit risk is removed on the pool by issuing credit-linked notes to absorb losses. The first CLO of this kind was EPIC by Depfa and insured by KfW. A more recent example was Boadilla Project Finance CLO 2009-1 by Santander. Prospectus here
Dexia Local's WISE 2006-1 CBO had a portfolio of project finance bonds not loans. The bonds were credit enhanced by monoline insurers. The CBO was called a 'double-default' structure because the monolines had to default and the bond issuers had to default, before the CBO's CLN investors sufered credit losses.
losses