ALE Property brews CMBS refinancing

ALE Property, an Australian pub owner, is planning to sell the country's first commercial mortgage-backed securitisation of the year, and approached investors this week with a A$160m ($168.7m) deal. But the scarcity of CMBS issues means demand for the asset is unknown — and funding officials could ditch the plan if they do not find demand.

  • 11 Apr 2011
ALE wants to refinance three tranches of a 2006 securitisation of pub mortgages that are due to mature in May. Bankers are approaching both new and existing investors with a A$146m AB note and a A$14m B note. But the issuer will drop the plan if it cannot ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%