Record December volumes power CMBS to year end

Issuers have flocked to the CMBS market with deals this month, including the largest commercial real estate CLO since the crisis. With a seven potential deals still to close before year end, this December could be the busiest in a decade, said Bank of America Merrill Lynch analysts.

  • By David Bell
  • 11 Dec 2017

Last week, $2.51bn of private label CMBS was issued, including two new conduit deals — a $140m single borrower deal secured on the Westin Times Square hotel in Manhattan, and a $1bn commercial real estate CLO from Blackstone, the largest deal of its kind since the financial crisis.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 18.00
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.42
3 Citi 5,130 13 8.76
4 JP Morgan 4,681 6 7.99
5 Lloyds Bank 3,389 13 5.79

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 70,706.84 201 11.60%
2 Bank of America Merrill Lynch 60,472.76 166 9.92%
3 Wells Fargo Securities 48,082.68 138 7.89%
4 JPMorgan 48,046.47 137 7.88%
5 Credit Suisse 38,252.19 94 6.28%