CMBS - All Articles

  • Retail’s return: Brookfield offers big box CMBS

    After the worst year ever for UK retail, plunging valuations and landlord implosions, Brookfield is testing the capital markets’ appetite for a bet on the sector’s recovery, launching a CMBS deal backed by nine UK retail parks. The launch came on the same day that the UK government announced that landlords would be banned from evicting non-paying tenants for a further nine months. Owen Sanderson reports.

    • 17 Jun 2021
  • Goldman brings office CMBS as Dutch lockdown ends

    Goldman Sachs announced this week that is is refinancing a portfolio of Dutch office, hotel and retail outlets through a €220m CMBS called Bruegel 2021. The transaction is added to the growing pile of CMBS as investor confidence grows in assets impacted by the pandemic last year.

    • 11 Jun 2021
  • UK equity securitizations possible despite tax headaches

    The UK is reforming its treatment of special purpose vehicles in an attempt to make itself appear more business-friendly. However, in its attempts to open up the asset class, regulators could inadvertently tie up the market in red tape, as shown by its recent consultation over the possibility of including shares in ABS collateral.

    • 06 Jun 2021
  • Senegal EUR775m 5.375% June 37

    • 03 Jun 2021
  • Senegal proves robust demand in euros with negative NIP

    The Republic of Senegal raised €775m on Wednesday in a deal that achieved a negative new issue premium of 25bp, according to bookrunners. Investors’ appetite for high yielding emerging market credit remains robust despite lingering concerns over developed market inflation and central bank tapering.

    • 03 Jun 2021
  • Senegal leads African sovereign spree in bonds

    Senegal entered the bond market on Wednesday with a euro offering, as a string of African sovereign issuers are expected to raise cash from international investors in the coming weeks.

    • 02 Jun 2021
  • CMBS market looks to life after Covid

    Commercial real estate has been one of the hardest hit sectors during the Covid-19 pandemic. The images of shuttered shops and empty offices are almost as emblematic of the Covid crisis as facemasks and stay-at-home warnings. Although there is hope for a recovery in issuance led by the red-hot growth in logistics sites, the outlook is uncertain given that underlying values of many properties backing existing CMBS remain unknown. Sam Kerr reports.

    • 02 Jun 2021
  • Sub-Saharan African sovereigns line up to raise cash as tapering fears loom

    Several sub-Saharan African sovereigns are set to storm bond markets in the coming weeks, driven by expectations that credit conditions later this year may be less conducive to issuance amid a potential tapering of financial support, bankers say.

    • 01 Jun 2021