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 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 40,734.72 129 11.29%
2 JPMorgan 32,938.92 93 9.13%
3 Wells Fargo Securities 30,907.51 87 8.57%
4 Bank of America Merrill Lynch 27,917.30 88 7.74%
5 Credit Suisse 22,890.32 71 6.35%