Tight spreads helping CMBS market muscle back in

As the CMBS market starts to claw back some of the market share it lost after the financial crisis, bankers have said the resurgence comes down to a simple factor — pricing.

  • By David Bell
  • 05 Oct 2017

Poor borrower experiences with debt servicers, punitive regulation and rapid lending growth at US regional and community banks all contributed to a slip in CMBS issuance in recent years, but surging demand for structured credit is now helping bring back borrowers to the market.

The non-agency CMBS market ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 98,446.48 276 13.35%
2 Bank of America Merrill Lynch 90,174.33 262 12.23%
3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%