Latest CMBS news
Deutsche Bank is telling investors that it may be time to place bets against the CMBS market, as mounting problems in the retail sector threaten the health of some post-crisis bonds heavily exposed to lower quality retail properties.
UK specialist lender, Together, which offers residential, commercial and personal loans, has agreed a £90m four year funding facility with Goldman Sachs Private Capital.
Freddie Mac has sold a debut risk transfer securitization backed by multifamily loans, expanding its programme of transferring commercial mortgage risk to the private market.
Holdings of US CMBS at the largest life insurance companies have dropped in recent years, as firms shift their focus more to originating and holding commercial real estate (CRE) loans, according to research from JP Morgan.
The Court of Appeal in the UK has declined to give Credit Suisse Asset Management leave to appeal a judgement regarding payments to the class 'X’ notes in several Titan deals, a European CMBS series originated by Credit Suisse before the crisis.
The final three US CMBS conduit transactions of 2016, including a risk retention compliant offering, were priced at the end of last week, closing out a busy fourth quarter for primary issuance.
For all the noise in the US and EU markets this year over risk retention and the harm that it causes issuers and market participants, many in the market admit privately to quite liking the idea.
The markets have largely endorsed US president-elect Donald Trump’s mission to “make America great again”. But previous populist strongmen, in their quests to prove national strength and virility, have done a world of damage to their country’s economic prospects.
Issuance of US CMBS in 2016 is projected to be down roughly 30% year-over-year, with the outlook for renewed growth mixed as the market eyes threats to CMBS as a source of commercial real estate (CRE) debt capital.
The CMBS market took the surprise US presidential election result as an opportunity to pick up bonds on the cheap, with spreads tightening in the immediate aftermath of Tuesday’s vote.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
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|Rank||Lead Manager/Arranger||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Bank of America Merrill Lynch||8,769.59||26||12.43%|
|2||Wells Fargo Securities||8,159.79||28||11.56%|