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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Eurohypo, the special servicer on the troubled Opera Finance (Uni-Invest) Dutch commercial mortgage-backed securitization, is to hold an auction for the deal’s underlying portfolio.
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The latest version of Regulation AB II, the Securities and Exchange Commission’s massive asset backed securities reform, does not include a risk-retention requirement, since the agency considers Dodd-Frank rules adequate on skin-in-the-game concerns.
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The lull in European structured finance is expected to last another week before the market kicks back into action, according to syndicate desk heads in London.
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The short-selling ban on bank stocks in France, Belgium, Spain and Italy is not likely to have a direct impact on European securitizations, but that’s not stopping the sector’s paper from continuing to fall in what bankers are calling an “ugly” market environment.
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Deutsche Bank and UBS have priced a $1.7 billion commercial mortgage-backed securitization, with the 10-year, AAA-rated A4 bonds coming in 15 basis points from initial price talk.
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Securitization syndicate desks in Europe are said to be already sounding out buyers for potential new issues following the summer lull, but are being more cautious in their conversations with investors.
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Noteholders in the £454.3 million ($740 million) Prominent Conduit No. 2 synthetic commercial mortgage-backed securitization have been told a bankruptcy credit event occurred in one of the underlying loans backing the deal.
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performance issues in European CMBS soared in the first half of this year, as extension periods and forbearance come to an end, while "gloomy" refinancing conditions continue, Moody’s said on Thursday,
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The private-label residential mortgage securities market was dealt yet another setback this week, with tumult in the credit markets expected to push regular new deal flow into the distant future.