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Deutsche Bank predicts $155bn of private sector CMBS
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Single asset, single borrower deals drove the US CMBS market in 2025, particularly on New York City collateral as office attendance rose. With interest rates predicted to fall further in 2026, market participants are looking forward to a greater variety of deals on commercial real estate from other cities and sectors, writes Pooja Sarkar
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Bondholders of Brazilian oil and gas producer OGX could face a distressed debt exchange or similar restructuring as the company’s liquidity pressures reach critical levels, said Standard & Poor’s.
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SNS Bank will redeem all of the outstanding notes in its Hermes XVI Dutch residential mortgage securitization on Oct. 18, the first optional redemption date.
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German property company Gagfah is considering using a CMBS to refinance three multi-family housing portfolios from its NILEG subgroup ahead of the loans’ April 2014 maturity date.
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Commonwealth Bank Australia has priced Medallion Trust Series 2013-2, its second residential mortgage securitization of the year, with each of the tranches upsized ahead of Friday’s pricing.
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When Greece’s Piraeus Bank bought Geniki Bank, the Société Générale subsidiary, earlier this year, the deal brought with it a chunk of capital that put it on the road to retaining its private sector management and control. Now it wants to spin off the unit later this year to give itself another capital boost and to support the next phase in a hoped-for rehabilitation of the Greek private sector.
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The AA Group, the UK roadside assistance and insurance company, last Friday tapped its whole business securitization for another £350m of senior debt, six weeks after inaugurating the structure with a £625m senior and £655m junior issue.
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All five loans securitized in Goldman Sachs’ 2007 German commercial mortgage-backed securities transaction, Fleet Street Finance 3, are now in default, according to Barclays analysts in London.
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Codere, the Spanish gambling company, has decided not to pay the interest on its $300m 2019 bonds, which was due on Thursday.
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Auto-Teile-Unger, a German chain of car repair shops, is working on a programme to restructure its balance sheet, which could affect its bonds and loans.