Latest CMBS conduit priced tight as analysts eye rally

JP Morgan and Deutsche Bank priced the latest conduit CMBS deal at year tight levels last Friday, as analysts predict further tightening in CMBS debt after the market lagged a rally in corporate debt last month.

  • By David Bell
  • 16 Oct 2017

The $1.1bn JPMDB 2017-C7 conduit deal showed spreads tighten below the 200 day moving average across each of the rated tranches, with the super senior 10 year triple-A paper priced at 83bp over swaps, the tightest levels seen this year, according to Trepp data.

The $287.7m super seniors ...

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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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 111,812.59 321 13.01%
2 Bank of America Merrill Lynch 97,835.52 286 11.38%
3 Wells Fargo Securities 81,904.68 250 9.53%
4 JPMorgan 62,040.18 194 7.22%
5 Credit Suisse 44,939.65 139 5.23%