Complex investment vehicles offered to a unique group of participants. The values are difficult to determine because of their unique structures and pricing. For example, credit default swap derivatives that led to the US financial crisis in 2008 were considered esoteric debt.
Related information about esoteric debt:
- Esoteric Debt Definition | Investopedia
 Complex debt instruments with structures and pricing that are known to relatively   few participants. The structure may lead to seemingly attractive risk/return over ...
 
- What is esoteric debt? definition and meaning
 Definition of esoteric debt: Complex investment vehicles offered to a unique   group of participants. The values are difficult to determine because of their   unique ...
 
- Mysterious mutual funds you should know about
 Mar 23, 2011 ... Esoteric debt funds: The fund categories listed above are either equity funds or   hybrid funds. There are some esoteric funds in the pure debt ...
 
- Test for Bonds Backed by Esoteric Assets - WSJ.com
 Nov 19, 2011 ... Because credit analysts have less experience with how such assets have   performed, even the better-rated parts of esoteric-debt deals are ...
 
- At Debt's Door: What Can We Learn from Argentina's Recent Debt ...
 Jul 14, 2010 ... Other explanations have included the more esoteric “debt intolerance” concept,   or that the default itself was the cause of Argentina's 2002 ...
 
- Fixed Income - Tullett Prebon Information
 Country specific, and esoteric debt securities. ○ Expert knowledge on each of   the markets priced. ○ Proprietary pricing model driven by unique market insight ...
 
- BPubs.com: Capital Finance Articles
 Corporate treasurers have been hearing a lot of pitches for esoteric debt   instruments like putable/callable reset bonds. While they may seem alluring in   the short ...
 
- History ‹ James E. Kearney Foundation
 James was a brilliant young mind that could comfortably switch back and forth   from discussing esoteric debt structures at his job as an investment banker, ...