Gatehouse preps Shariah compliant structure for CMBS breakthrough
Shariah compliant lender Gatehouse Bank kicked off a roadshow on Monday for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure in order to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.
London based Gatehouse is sole structuring agent, arranger and lead manager for the deal, and begins a European wide roadshow on Monday. The bank is still seeking a rating for the two tranche transaction, which it expects to close in February or March.The deal will fund ...
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