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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Price talk for the latest conduit commercial mortgage-backed securities deal in the market is coming in 10 basis points tighter than the previous offering.
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The prolonged low interest rate environment amid a weak recovery is forcing U.S. banks operating with excess liquidity to reinvest additional cash into their securities portfolios, particularly mortgage-backed securities, according to Fitch Ratings.
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Clydesdale Bank will begin roadshowing its second post-crisis U.K. residential mortgage-backed securities trade, Lanark Master Issuer Plc Series 2012-2, Thursday, with the issuance size expected to be in the region of £750 million ($1.16 billion) equivalent.
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Morgan Stanley and Bank of America are preparing a conduit commercial mortgage-backed securities deal featuring a $180 million loan on the Legg Mason tower in Baltimore and are expected to price the $1.3 billion offering by the end of the week, according to materials shared with investors.
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Clydesdale Bank is getting ready to come to market with its second post-crisis U.K. residential mortgage-backed securities trade.
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The sale of a portfolio of 33,000 apartments by the GBW subsidiary of German lender BayernLB is likely to generate “significant bidding interest” and may help in setting a benchmark for the prospects of refinancing larger German multifamily housing commercial mortgage-backed securities, according to Fitch Ratings.
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Deutsche Annington Immobilien AG has agreed to a plan to restructure German Residential Asset Note Distributor (GRAND)—Europe’s largest single loan commercial mortgage securitization—which includes a note extension and a EUR504 million ($619.5 million) equity support package from U.K. private equity investor Terra Firma.
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One of Europe’s largest ever securitisations, the €4.46bn outstanding German multi-family GRAND CMBS, is a step closer to being restructured after the six largest noteholders agreed on a plan. The remaining creditors are set to be filled in on the details on Wednesday.
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It was a quiet week, especially in the U.S. as the July 4 holiday fell smack in the middle of it. Deal flow was limited, but there was plenty to talk about with the growing LIBOR scandal in London and, in California, municipalities making a play on underwater mortgages.
