CLO uptick seen positive for CMBS; Gagfah eyes new issue

A new German multifamily housing securitisation planned by real estate investor Gagfah, coupled with the reopening of Europe’s collateralised loan obligation market, points to strong investor demand away from typical core securitisations, officials in London say.

  • 28 Mar 2013
Gagfah wants to partly refinance a chunky €2.1bn ($2.68bn) loan securitised in its German Residential Funding 2006-1 commercial mortgage securitisation with six new tranched loans backed by German residential properties. One of these, a €708.8m five year facility, is already earmarked for a commercial mortgage-backed securities deal, Gagfah ...

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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 12,796.80 35 13.50%
2 Wells Fargo Securities 8,855.62 27 9.34%
3 Bank of America Merrill Lynch 8,771.28 25 9.25%
4 JPMorgan 7,423.52 25 7.83%
5 RBC Capital Markets 4,569.28 13 4.82%