Gatehouse markets Shariah compliant CMBS
Shariah compliant lender Gatehouse Bank this week began a roadshow for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure 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, the sole structuring agent, arranger and lead manager for the deal, 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 the acquisition ...
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