Latest CMBS news

  • CLO, CMBS markets test multiple approaches to risk retention

    As the US CLO and CMBS markets debate the viability of horizontal versus vertical risk retention, the market is quietly discussing a third solution to this year’s favourite fixed-income conundrum.

    • 20 Oct 2016
  • Deutsche prices single asset CMBS test deal

    Deutsche Bank priced the first ever single asset CMBS offering to comply with risk retention rules late last week, giving the market the first glimpse of what a deal tied to a single property will look like under the new regulatory regime.

    • 18 Oct 2016
  • US CMBS gives back summer gains

    The US CMBS market has been steadily widening since a summer rally pushed spreads on the bonds to the tightest levels of 2016, with new issue benchmark triple-As widening out by over 20bp since then.

    • 06 Oct 2016
  • Barclays retains rare small loan CMBS as BoE funding scheme begins

    Barclays has structured a 57 loan CMBS totalling £2.44bn ($3.6bn), which will be largely retained by the bank, just a few days after the Bank of England opened up its Term Funding Scheme to offer low cost liquidity to UK banks.

    • 28 Sep 2016
  • Lloyds rejects lawsuit on swap liability

    Lloyds has told GlobalCapital that a lawsuit which could cost it £275m ($357m) does not have merit, and promised to contest the suit vigorously.

    • 20 Sep 2016
  • House committee passes risk retention fix

    The US House Financial Services Committee, has moved to pass the Financial CHOICE bill, a wide ranging reform of the Dodd-Frank Act which would essentially exempt non-RMBS securitized assets from risk retention.

    • 14 Sep 2016
  • Noé returns to lead Kroll’s push into Europe

    Kroll Bond Rating Agency has hired Mauricio Noé to lead a new push into the European market, where it hopes to offer ratings on the whole range of credit types, from public sector to high yield.

    • 08 Sep 2016
  • Bondholders seek to tear up monster swap debt to Lloyds, UBS

    Bondholders in Fairhold Securitisation, a pre-crisis CMBS deal backed by sheltered housing ground rents in the UK, are pushing to tear up a huge swap liability in the structure, which could leave Lloyds and UBS, the swap counterparties, more than £500m out of pocket.

    • 24 Aug 2016
  • Gagfah repays €2bn CMBS in funding shift

    The senior loans backing German Residential Funding 2013-1 have been repaid, in a move that will hand back nearly €2bn to CMBS investors who bought the deal, with no replacement deal likely.

    • 23 Aug 2016
  • Regs will treat retained portion of Wells CMBS as loans, not bonds

    Wells Fargo issued the US CMBS market’s first ever risk retention compliant deal last month, retaining a 5% vertical interest which sources this week say will be treated like a loan participation rather than a securitization exposure for the purposes of calculating risk based capital charges.

    • 17 Aug 2016

CMBS news archive

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,029 20 10.95
2 Bank of America Merrill Lynch (BAML) 6,703 19 10.45
3 JP Morgan 4,776 10 7.44
4 Credit Suisse 4,718 9 7.35
5 Deutsche Bank 4,262 13 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Oct 2016
1 Wells Fargo Securities 67,591.81 167 11.54%
2 Bank of America Merrill Lynch 57,568.62 162 9.83%
3 JPMorgan 55,390.36 159 9.46%
4 Citi 55,051.46 160 9.40%
5 Credit Suisse 43,756.73 120 7.47%