Lenders shun CMBS refinancing for CapitaCommercial

CapitaCommercial Trust, Singapore’s oldest real estate investment trust, is set to close the books on a S$580m ($376m) loan without drawing a single commitment.

  • 11 Mar 2009

One bookrunner described the response to the deal in syndication as “miserable”, noting that five or six banks that had been invited to join the facility had all turned it down.

The poor response in the market demonstrates the extent of the turmoil in the Asian loan market, ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%