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CMBS

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  • Alburn Real Estate Capital (REC) 6, a commercial mortgage-backed securitization originated by NM Rothschild, is tendering to buy back notes from bondholders, according to a tender offer obtained by TS.
  • Italy’s Banca Monte dei Paschi di Siena is gearing up to market a €1.67 billion ($2.34 billion) securitization of a single property loan backed with branches and offices occupied by the firm.
  • An overhaul of European floating-rate commercial mortgage-backed securities structures is being plotted by market players.
  • Not all specially serviced commercial mortgage-backed securities loans characterized as in imminent default are in fact in danger of defaulting.
  • Demand for top-rated notes from a new $2 billion commercial mortgage-backed 144a securitization rolled out by JPMorgan and Deutsche Bank for hospitality chain Extended Stay Hotel is outstripping supply by five times, according to traders.
  • The National Credit Union Administration’s second resecuritization of seized credit union assets, a $3.76 billion wrapped offering of commercial mortgage-backed securities, has been increased by almost $1 billion.
  • U.S. structured finance transactions using interest and currency swaps could become less economical to issue if proposed rules on clearinghouses come into effect, according to a Standard & Poor's analyst.
  • The DT-12 loan in German CMBS Talisman 4 is on the verge of breaching its loan to value covenant after a revaluation of the underlying properties.
  • Price talk on the $735.87 million commercial mortgage-backed securities deal from a Wells Fargo-Bank of America (TS, 10/25) partnership is coming in slightly tighter than an $856.6 million securitization from Deutsche Bank that was completed last week.