Latest news
Latest news
Deal refinances three banks' loans for $1.3bn acquisition
Barclays is holding the risk retention for the deal
Deal includes $760m of triple-A notes guided at 105bp
More articles
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A trio of CMBS conduit deals were priced this week, with investors saying that low levels of new supply combined with the anticipation of a summer slowdown has caused spreads to tighten in to the lowest levels in nearly a year. -
Bank of America Merrill Lynch’s latest Taurus transaction showed that successful CMBS execution is still possible in the European market, despite minimal issuance and tricky economics in the asset class.
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Issuers are lining up two new deals in the European primary ABS market this week, with investors set to get a rare exposure to credit card ABS and CMBS paper.
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The much talked about CMBS maturity wave is set to roll in starting in the second half of this year, with more loans coming due per month than the market is currently producing in new origination volume. Yet, Moody’s Investors Service is confident that most loans will be refinanced one way or another.
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JP Morgan and Deutsche Bank priced an $893m conduit CMBS transaction on Thursday at 117bp over swaps for the benchmark triple-A class, the tightest level for a deal so far in 2016.
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CMBS special purpose vehicle White Tower 2006-3 has dropped its UK High Court case against real estate company Colliers International over the valuation of the property portfolio that backed the £1.15bn securitization.
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Holdings of CMBS at primary dealers fell below $6bn in April for the first time since reporting of the data began three years ago, a further sign that some of the largest market makers for the bonds are pulling back.
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The US CMBS market is set to undergo a transformation in 2016, with market participants predicting that the response to new regulation will dramatically change the nature of the market.
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Bank of America Merrill Lynch announced its second European CMBS deal of the year on Thursday, with a €230m deal backed by a loan made to Canadian real estate investment trust Dream Global REIT in December last year.
