CMBS spreads braced by supply slowdown

The first CMBS deal in the new quarter was priced last Friday, with the senior bonds coming 5bp tighter than the previous offering in the market. With deal supply slowing after a surge in March, the worst of a recent patch of spread widening should be over, said Bank of America Merrill Lynch analysts.

  • By David Bell
  • 16 Apr 2018

CMBS spreads widened in recent weeks after issuers brought $23bn of new private label deals in the first quarter of the year, well above the same period last year, against the backdrop of volatile credit markets.

But issuance has been slow so far in April with only two ...

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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%