Gagfah’s jumbo €2bn CMBS prices wide of initial guidance at bottom of cap stack

Leads have successfully priced Gagfah’s €2bn GRF German multi-family CMBS after putting extra spread on the table for investors in the class ‘D’ and ‘E’ tranches to allay concerns about widening CMBS secondary spreads.

  • By Toby Fildes
  • 13 Jun 2013

Final pricing for the top three tranches of the capital structure remained unchanged from initial guidance. The €1.24bn ‘A’ tranche was priced at 115bp over three month Euribor, the €239.8m ‘B’ tranche was priced at 160bp over and the €137.1m ‘C’ tranche was priced at 210bp over.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
4 Meritz Financial Group Inc 192.86 1 19,286,162,593.99%