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 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 129,591.43 378 11.20%
2 Bank of America Merrill Lynch 103,557.15 301 8.95%
3 JPMorgan 101,741.96 296 8.79%
4 Wells Fargo Securities 91,373.90 263 7.90%
5 Credit Suisse 76,186.18 204 6.58%