CMBS spreads braced by supply slowdown

By David Bell
16 Apr 2018

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.

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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