Issuers prep massive Blackstone showroom CMBS

A consortium of banks is preparing to issue a $1.15bn single borrower CMBS deal backed by a portfolio of showroom properties owned by Blackstone.

  • By Max Adams
  • 01 May 2019

The deal, BX 2019-IMC, is a floating rate transaction that will be offered in seven tranches, ‘A’ to ‘G’. The $330.8m senior class ‘A’ tranche has a triple-A rating from S&P Global Ratings.

CitiDeutsche BankJP Morganand Wells Fargo issued the underlying two year floating rate ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.51%
4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%