为什么选B，不选D,equity tranche层只有5million，不能完全吸收6.625million的losses啊

问题如下：

An underwriter structures a collateralized loan obligation(CLO) composed of 100 identical loans, each with a notional value of GBP 800,000 to be repaid in one year with an interest rate of LIBOR + 3%.The CLO has one planned payment at maturity and its capital structure is given by:

At maturity the CLO accumulates GBP 6,625,000 of losses from defaults and unpaid interest. If LIBOR was flat at 1% over the 1-year period, and assuming no recovery on the defaults, how would the losses be absorbed by the capital structure?

选项：

A.The equity tranche will lose some of its value, and the other tranches will not be affected. B.The equity tranche will lose all of its value, and the other tranches will not be affected. C.The equity tranche will lose some of its value, and the mezzanine tranches will lose some of its value. D.The equity tranche will lose all of its value, and the mezzanine tranche will lose some of its value.

解释：

一年到期后总共会收入：80m+80m*4%=83.2m.

由于我们损失了6,625,000,所以到手一共83.2m-6.625m=76.575m

senior需要65m*(1+1.5%)=65.975m

mezz需要 10m*(1+6%)=10.6m

刚好76.575m的收入可以满足senior及mezz的需求，那么刚好只有equity 层损失掉。因此选B