Westfield Stratford City to refinance 2014 CMBS

A loan on the Westfield Stratford shopping centre in East London, last securitized in a 2014 CMBS, is being refinanced, with BNP Paribas and HSBC announced as arrangers for a new £750m ($940m) dual tranche offering.

  • By Tom Brown
  • 10 Jul 2019

The tranches, both rated triple-A, will offer a floating rate coupon linked to Sonia and have a seven year maturity, the proceeds of which will be used to refinance the outstanding 2014 transaction.

“It is pretty darn close to a securitization,” said an investor, when asked if ...

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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

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4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%