Investor interest surges for latest Blackstone-sponsored European CMBS

The latest Blackstone-sponsored CMBS transaction, FROSN-2018 DAC, drew strong demand from investors across the capital stack, reflecting scarcity value and attractive pricing compared with other European ABS sectors.

  • By Asad Ali
  • 16 Apr 2018

The €530m CMBS is secured on a single senior loan originated by Citi and Morgan Stanley to finance part of Blackstone’s acquisition of Sponda Oyj, which was formerly one of the largest listed real estate firms in Finland, with a market capitalisation of €1.7bn.

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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 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 130,254.20 381 11.03%
2 Bank of America Merrill Lynch 104,440.37 307 8.85%
3 JPMorgan 103,862.77 304 8.80%
4 Wells Fargo Securities 93,728.92 276 7.94%
5 Credit Suisse 76,912.30 210 6.51%