Latest news
Latest news
Deal backed by renovated center in Kansas City would be widest so far at that level
Last week EQT priced $985m of industrial paper to fund an acquisition
UK bank is selling a $548.27m issue
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Tesco Property Finance’s fourth capital markets outing was a blowout success, with an orderbook three times oversubscribed, and 123 orders in the book. The £685.1m 22.4 year expected life bonds are fully backed by Tesco, but if Tesco goes bust, investors have recourse to the underlying assets.
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Securitization duo James Croke and Peter Manbeck have joined the New York office of Chapman and Cutler as partners focusing on a range of asset classes, including the growth of the firm’s asset-backed commercial paper conduit business.
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Deutsche Bank is rumored to be looking to securitize the senior piece of a commercial loan secured on a property located in London’s Chiswick Park, according to a market official.
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Tesco has launched its fifth sale and leaseback CMBS, a £680m deal through Tesco Property Finance 4, arranged by Goldman Sachs, HSBC, and JP Morgan.
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Deutsche Bank, UBS and Ladder Capital are planning to make a splash with their roughly $2.4 billion new commercial mortgage-backed securitization at the upcoming ASF 2011 conference in Orlando, Fla.
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Credit rating agencies are feeling the weight of new regulations, causing delays in primary new issuance by up to two weeks, according to bankers.
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A loan securitized in Merrill Lynch’s Taurus (Germany) 2006-1 commercial mortgage-backed deal has had its standstill period extended to Feb. 25 after the borrower failed to repay it on the Oct. 18 maturity date.
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NM Rothschild, the servicer in the Alburn Real Estate Capital 6 securitization, has called on investors in the £188 million ($305.5 million) U.K. commercial mortgage-backed deal to set up a bondholder steering committee in order to thrash out all available options after the issuer’s tender offer to buy back notes expired Jan. 21.
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Gatak Real Estate’s tender offer in the REC 6 CMBS has been rejected, after failing to secure 75% of noteholder votes in each class. The collapse of the tender leaves noteholders with few options, as the transaction is expected to default on its April payment date.