CMBS

  • BAML prices CMBS at wide range of guidance

    BAML prices CMBS at wide range of guidance

    Bank of America Merrill Lynch priced Taurus 2019-2 at 120bp over Libor, with senior notes landing towards the wide range of initial price thoughts released on Tuesday.

  • BAML to refinance 2017 Taurus CMBS deal

    BAML to refinance 2017 Taurus CMBS deal

    Bank of America Merrill Lynch is bringing a £318.1m CMBS, a refinancing of Taurus 2017-2, comprising five tranches offering a floating rate coupon over three month Libor.

  • Junior Galapagos bondholders swoop to stop business sale

    Junior Galapagos bondholders swoop to stop business sale

    Unsecured creditors to German engineering firm Galapagos swooped in at the last minute on Friday to stop a sale of the business that would have wiped out their claims. One of the funds fighting this corner is the credit opportunities fund raised by former Deutsche Bank securitization boss Elad Shraga.

  • Latest CMBS deals touch widest levels of 2019

    Latest CMBS deals touch widest levels of 2019

    Issuers launched two conduit CMBS transactions on Friday at the widest spreads seen so far in 2019, battered by the week’s macroeconomic volatility and headlines around interest rates and trade wars.

  • Man GLG hires two in HY credit

    Man GLG, the investment management business of Man Group has hired Patrick Kenney and Santiago Pardo, both of whom will focus on non-US stressed, distressed and opportunistic credit globally.

  • CDS committee asked to rule on Galapagos default

    CDS committee asked to rule on Galapagos default

    The EMEA CDS determinations committee will rule on whether German heat exchanger manufacturer Galapagos defaulted on its bonds by missing coupons on June 15. The committee will meet on Friday to decide whether a “failure to pay” event has occurred.

  • Debt purchaser preps securitization to fight RWA hike

    Hoist Finance, a Sweden-based debt restructuring firm, has been marketing its debut securitization — an essential move in the firm’s attempt to recover from a regulatory broadside which landed last year.

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