Liquidity provider shortage hitting CMBS market return

A shortage of banks willing to provide liquidity facilities in new CMBS is hindering the return of the European market, CMBS specialists say, despite an abundance of investor interest flowing into the sector.

  • 13 Feb 2013
Investor demand for CMBS bonds is at a post-crisis peak, largely because of the lack of high yielding, investment grade paper in credit markets. On the supply side, sponsors with large refinancing needs saw the successful execution of Deutsche Bank’s Florentia 2012-1 CMBS, which refinanced a portfolio of ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 58,985.44 193 10.63%
2 JPMorgan 51,597.56 153 9.29%
3 Wells Fargo Securities 41,996.86 122 7.56%
4 Bank of America Merrill Lynch 41,491.72 136 7.47%
5 Credit Suisse 38,293.55 120 6.90%