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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Bank of America Merrill Lynch closed its €317m Taurus 2016-1 DE CMBS deal this week, only the second CMBS deal to be priced in the last six months as market dynamics create obstacles for the asset class. -
Issuers of CMBS are rethinking their approach to risk retention, shifting the burden of compliance from the buyers of the most subordinated bonds to the banks themselves, said market sources this week.
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Bank of America Merrill Lynch has released price guidance on its new €317m CMBS deal backed by a portfolio of German retail properties, with the bank expected to price the deal on Friday.
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Measures to ease risk retention burdens on the CLO and CMBS markets received the approval of the House Financial Services Committee on Wednesday.
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Bank of America Merrill Lynch has launched the first European CMBS deal since September last year, with a €317m securitization of a loan to Blackstone, secured by German retail properties.
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Plummeting oil prices are beginning to take their toll on the CMBS market, with around $55m of loans backed by properties in oil producing regions of the US reporting delinquencies this month.
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Issuers flooded the pipeline this week with around $4bn of new CMBS deals, but spreads failed to reverse the widening trend that has dominated the market since the beginning of the year.
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Several non-bank CMBS lenders are looking to change their approach to new loan origination this year in the face of onerous regulation and thinning profits, with some planning to cut back on loans bound for securitization and bulk up in on-balance sheet floating rate debt.
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A High Court judge has ruled in favour of bondholders in their dispute with the Canary Wharf Group over the real estate group’s early repayment of £577.9m of securitized notes in July 2014.
