CMBS - All Articles

  • BAML follows with Italian CMBS as QE gives reason for optimism

    Bank of America Merrill Lynch priced its private equity sponsored Taurus CMBS this week, the second transaction backed by Italian assets already this year. Bankers expect that tightening yields on more mainstream products will have a positive impact on the CMBS market in the coming months.

    • 29 Jan 2015
  • SocGen takes 11 from RBS for new CMBS platform

    Société Générale is taking advantage of Royal Bank of Scotland’s retreat from US securitization to launch a new CMBS platform, its first in the US since the financial crisis.

    • 27 Jan 2015
  • CMBS bankers wait for QE boost as second Italian deal nears

    Bank of America Merrill Lynch has issued price guidance on its private equity sponsored Taurus CMBS, which will be the second transaction backed by Italian assets already this year. Bankers expect tightening yields on more mainstream products will have a positive impact on the CMBS market in the coming months.

    • 27 Jan 2015
  • CMBS steps out as Banca IMI and Cairn price fashionable deal

    Banca IMI and Cairn Capital priced and issued the first European CMBS transaction of the year this week, with the deal being used to refinance a luxury fashion complex in Milan.

    • 23 Jan 2015
  • Gatehouse markets Shariah compliant CMBS

    Shariah compliant lender Gatehouse Bank this week began a roadshow for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.

    • 22 Jan 2015
  • The SEC banned who from rating what?

    The Securities & Exchange Commission’s decision to suspend Standard & Poor's from rating conduit fusion CMBS deals for one year may seem dramatic, but will have little effect on issuers and investors. Market participants have already adapted to life without the ratings agency, which has seen its market share drop by a factor of 10 since 2007.

    • 22 Jan 2015
  • Gatehouse preps Shariah compliant structure for CMBS breakthrough

    Shariah compliant lender Gatehouse Bank kicked off a roadshow on Monday for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure in order to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.

    • 19 Jan 2015
  • UK group sells motorway services CMBS

    Extra MSA Group, which owns a portfolio of 18 motorway service areas (MSAs) in the UK, has securitised half of them in a private £220m commercial mortgage-backed bond just before Christmas.

    • 19 Jan 2015
  • Two out of three is bad for Tesco CMBS

    Standard & Poor’s became the second ‘big three’ ratings agency to cut UK supermarket group Tesco to junk status last week, and its commercial mortgage-backed debt is suffering the consequences.

    • 19 Jan 2015
  • Bay area PM approaching new ABS fund launch

    A San Francisco Bay area portfolio manager is readying his firm’s first dedicated securitized asset fund, focusing on esoteric ABS, as well as RMBS and CMBS and some CLOs.

    • 15 Jan 2015
  • MS introduces safeguard into UK CMBS deal

    Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.

    • 08 Jan 2015
  • Trepp and Markit launch US CMBS performance indices

    Trepp and Markit have teamed up to launch two CMBS indices in the US, available at the end of January, to cover the performance of deals at issuance and reflect trading of liquid CMBS transactions.

    • 08 Jan 2015
  • Morgan Stanley slips sanctions safeguard into UK CMBS

    Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.

    • 05 Jan 2015