January CMBS maturity minefield blows up

Another clutch of loans backing CMBS deals went into special servicing this week after failing to repay at their maturity dates, capping off a January packed with potential defaults. Other borrowers await the outcome of restructuring proposals, for which acceptance could trigger sharp spread tightening.

  • 01 Feb 2013
The Walzmuhle loan in Taurus CMBS (Germany) 2006-1 went into special servicing on Thursday, after failing to pay at maturity on January 18. The Austrian loan in Fornax (Eclipse 2006-2) went into special servicing on the same day. Capita Asset Services will act as special servicer for both ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%