Euro CMBS Up On Last Year, But Refi Headaches Remain

New-issue European commercial mortgage-backed securities are forecast to reach EUR6.5 billion ($8.68 billion) for year-end—over double that of 2012’s total of EUR3.2 billion ($4.28 billion)—but Standard & Poor’s analysts warn the “vast majority” of outstanding loans in the region are unlikely to be refinanced via the CMBS market.

  • 23 Aug 2013

New-issue European commercial mortgage-backed securities are forecast to reach EUR6.5 billion ($8.68 billion) for year-end—over double that of 2012’s total of EUR3.2 billion ($4.28 billion)—but Standard & Poor’s analysts warn the “vast majority” of outstanding loans in the region are unlikely to be refinanced via the CMBS market.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%