Latest news
Latest news
TwentyFour priced its Dutch prime RMBS refi, Blackstone its sterling logistics CMBS
Blackstone is aiming to execute its CMBS before the market shuts for Global ABS
Second large office CMBS in quick succession after The Soloviev Group sold a $1.7bn New York office CMBS last week
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Several second tier U.K. lenders are said to have put on hold plans to roll out residential mortgage-backed issues as a result of the Bank of England’s Funding for Lending Scheme, again raising concerns about the impact the program will have on securitization volumes.
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Stateside, investors were seen clamoring for one lone ABS deal, a farm and construction equipment transaction from John Deere Capital, that priced tight amid the otherwise barren ABS primary landscape. -
Dutch lender Obvion has returned to market with the fourth securitization of prime residential mortgages from its STORM program this year.
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As European securitization continues to be an “issuers’ market,” conditions for more non-conforming, buy-to-let and commercial mortgage-backed deals to come to market look favourable, London-based officials say.
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JPMorgan has priced JPMCC 2012-FL2, a $466 million commercial mortgage-backed securities deal that is also the first floating-rate offering of the year.
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The Fleet Street Finance 3 German commercial mortgage-backed securitization has been downgraded by Fitch Ratings on the back of concerns over the underlying assets in its largest loan.
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European primary securitization activity looks to be building, with two new trades from non-U.K. issuers set to warm up the market in early September.
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Noteholders of A class bonds in the U.K. commercial mortgage-backed securities deal Gemini (Eclipse 2006-3), securitized by Barclays, are likely to see a principal loss unless property values improve by almost 53% or more; an increasingly unlikely scenario, according to BofA-Merrill Lynch Global Research analysts.
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Fitch Ratings has downgraded the class D notes of the U.K. commercial mortgage-backed securities deal Cornerstone Titan 2005-1 by one notch to B, due to weakening recovery prospects for the £82.02 million ($129.80 million) Eagle office loan.
