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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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Pub securitisations were branded as "reckless" by a member of the UK parliament this week.
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Investors in European commercial mortgage securitizations originated since 2006 are sweating losses on nearly €90 billion ($117 billion) of commercial real estate loans in need of refinancing as soon as 2009 but hitting in earnest in 2011.
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Investors in 2006-vintage European commercial mortgage-backed securities deals are fearing greater losses as the underlying loans are approaching maturity and need to be refinanced.
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Credit Suisse is expected to make deep cuts to its commercial mortgage group in the coming days as part of larger firm-wide layoffs.
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Fort Lauderdale-based law firm Becker & Poliakoff has started a distressed property group in response to an increased number of workouts and related inquiries.
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Fallen U.K. high street retailer Woolworths, which went into administration last week with around £385 million ($582 million) of debt, is a tenant in a number of U.K. commercial mortgage-backed securities deals, say Barclays Capital analysts.
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Former Broadpoint Captial distressed structured products traders Viru Raparthi and Maneesh Awasthi have joined brokerage Newedge, a joint venture between Société Générale’s Fimat and Calyon Financial, to build up a synthetic and cash structured credit platform there.
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Commercial mortgage-backed securities and other mortgage-related debt could eventually be some of the assets purchased under the Treasury Department’s expansion of the Troubled Asset Relief Program.
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Commercial mortgage-backed securities spreads widened to unprecedented levels last week, with some AAA-rated bonds jumping to more than swaps plus 1,450 basis points.