Big week for CMBS as Westfield relaunch follows Tulip pricing

Westfield Stratford 230x150
By Tom Porter
30 Sep 2014

Crédit Agricole and Deutsche Bank on Tuesday relaunched the £750m Westfield CMBS they were forced to pull in the summer amid poor demand and regulatory concerns, the morning after Deutsche Bank priced the first multi-loan and multi-sponsor Dutch CMBS since the crisis.

Crédit Agricole and Deutsche Bank postponed the original Westfield transaction at the beginning of August, claiming some investors were concerned with a lack of risk retention in the deal’s structure. But market participants scoffed at the suggestion and said the pricing was aggressive and the timing poor. They got as ...

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