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 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 90,620.08 256 11.30%
2 Bank of America Merrill Lynch 77,027.41 213 9.60%
3 JPMorgan 67,464.46 192 8.41%
4 Wells Fargo Securities 67,146.17 186 8.37%
5 Credit Suisse 52,389.21 132 6.53%