Latest news
Latest news
UBS headquarters among deals in enthusiastic SASB market
Participants expect asset class to stay well bid though some are cautious sentiment could easily change
Bank's fourth five-year conduit CMBS of 2025 was oversubscribed even as it tightened from IPTs
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The ECB has published an addendum to serve as guidance for all future non-performing loans. The measure is non-binding and will serve as the basis for dialogue between the ECB and the banks it regulates directly. -
Morgan Stanley analysts wrote on Tuesday that the rally in CMBS is getting long in the tooth, though this has not halted appetite for new issuance, including a Blackstone-backed deal refinancing a loan secured on Chicago’s famed Willis Tower.
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Toys ‘R’ Us is discussing with investors the outlook for the company on Monday — with a restructuring proving elusive, there is talk of liquidating the company, which would be a blow to unsecured lenders.
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Leverage levels in US commercial real estate bonds are set to rise in 2018, according to Fitch Ratings, after three years of decline. The trend is a worry for many in the market, against the backdrop of loosening deal structures, pullback of offshore investors and words of warning from the former Federal Reserve chief on the sector.
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The US securitization industry is heading to Las Vegas next week for the industry’s largest annual gathering. Fittingly, securitizations backed by the city’s casinos are on the rise, although industry pressures pose growing concerns for the market, wrote Kroll analysts in a note on Thursday.
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The $4.5m rap on the knuckles for Deutsche Bank’s CMBS trading desk for taking advantage of an opaque system of secondary trading should come as no surprise. The market revels in its lack of transparency, so don’t expect change any time soon.
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First time issuers are dominating activity in the growing market for commercial real estate CLOs, with Bridge Debt Strategies the latest debut real estate investment trust to tap the market.
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Blackstone’s Italian CMBS Pietra Nera Uno was priced this week at the tight end of the 115bp-125bp price talk range for the senior tranche, despite a minor upset last Thursday as the European Central Bank (ECB) decreed that CMBS would be ineligible as repo collateral.
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The Securities and Exchange Commission has settled charges with Deutsche Bank over the “misleading” of customers over the price of US CMBS bonds, ordering the bank to repay more than $3.7m to customers, on top of a $750,000 fine.
