More retail woes for CMBS, but no crisis in sight yet

US CMBS delinquency rates are at historic low levels despite retail bankruptcies and department store closures this year, casting doubt on the hedge funds which made big bets on ‘a Big Short’ style trade on the CMBX indices.

  • By Alexander Saeedy
  • 11 Jun 2018
Despite the low delinquency rates, Fitch Ratings, on Monday, pointed out that that risk on individual deals has not evaporated. According to a report from the rating agency, as much as $3.7bn worth of loans collateralised in post-crisis CMBS deals are at risk of souring. While no downgrades ...

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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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,723.52 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%