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 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 10,064.23 34 12.48%
2 Barclays 7,915.37 23 9.82%
3 Bank of America Merrill Lynch 7,473.95 24 9.27%
4 JPMorgan 7,314.30 26 9.07%
5 Wells Fargo Securities 6,484.83 25 8.04%