Conduit CMBS spreads hover near 18 month wide levels

US conduit CMBS spreads are hovering around their widest levels since the middle of 2017, having been driven out by macroeconomic volatility that has leaked into fixed income in recent weeks.

  • By Max Adams
  • 04 Dec 2018
Barclays and Cantor Commercial Real Estate priced an $891.85m conduit transaction on Tuesday, selling the last cashflow super senior ‘A-5’ class at 99bp over interpolated swaps. That is just 1bp tighter than where UBS sold the equivalent tranche of a conduit offering last week. It ...

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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 %
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1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%