Latest news
Latest news
Investors offered both five and 10 year conduit paper
This is BofA’s fourth CMBS trade of 2025 from its Taurus shelf
Senior lawyer joins firm's Los Angeles office as partner
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Unsecured creditors to German engineering firm Galapagos swooped in at the last minute on Friday to stop a sale of the business that would have wiped out their claims. One of the funds fighting this corner is the credit opportunities fund raised by former Deutsche Bank securitization boss Elad Shraga. -
A Barcelona-headquartered paper company wants to focus on higher-margin specialist papers but it is floundering to find the money needed for a turn-around after the European Union delivered a blow that sent its bonds sliding.
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Issuers launched two conduit CMBS transactions on Friday at the widest spreads seen so far in 2019, battered by the week’s macroeconomic volatility and headlines around interest rates and trade wars.
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CMBS issuers are set to open up the primary market in August this week with four conduit transactions and a single borrower deal totaling just over $5bn, in what is likely to be a last burst of CMBS issuance for the summer.
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Man GLG, the investment management business of Man Group has hired Patrick Kenney and Santiago Pardo, both of whom will focus on non-US stressed, distressed and opportunistic credit globally.
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The EMEA CDS determinations committee will rule on whether German heat exchanger manufacturer Galapagos defaulted on its bonds by missing coupons on June 15. The committee will meet on Friday to decide whether a “failure to pay” event has occurred.
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Hoist Finance, a Sweden-based debt restructuring firm, has been marketing its debut securitization — an essential move in the firm’s attempt to recover from a regulatory broadside which landed last year.
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Morningstar Credit Ratings and DBRS have announced the appointment of the heads of their combined RMBS and CMBS groups following Morningstar’s acquisition of its Canadian rival in May.
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A loan on the Westfield Stratford shopping centre in East London, last securitized in a 2014 CMBS, is being refinanced, with BNP Paribas and HSBC announced as arrangers for a new £750m ($940m) dual tranche offering.
