CMBS

  • Goldman brings first green CMBS deal to Europe

    Goldman brings first green CMBS deal to Europe

    Goldman Sachs is bringing River Green Finance 2020, the first European commercial mortgage-backed security (CMBS) of the year and the first in Europe to be marketed as green.

  • People moves in brief

    People moves in brief

    Funding Circle picks up former securitization syndicator — Campbell moves from HSBC to RBC — Long-time DCM banker turns up at Aramco

  • From CMBS to high yield Reit: hospital finance saga nears the end

    From CMBS to high yield Reit: hospital finance saga nears the end

    Bonds in two pre-crisis CMBS deals backed by UK hospitals, are set to be repaid following a bid from Alabama-based Medical Properties Trust for 30 properties backing the deal. The Reit will fund the deal with recently signed high yield bonds, drawing down the curtain on a saga which has seen the ill-fated 2007 CMBS restructured twice in the last five years.

  • Deutsche Bank working with Alpha on Galaxy NPL sale

    Deutsche Bank working with Alpha on Galaxy NPL sale

    Deutsche Bank has been mandated on Alpha Bank’s ‘Project Galaxy’ NPL sale, likely to be the first to use Greece’s new non-performing loan guarantee scheme known as ‘Hercules’. Like its compatriot Eurobank, the sale will include the spin-off of an NPL management division as well as the loan exposures themselves.

  • Default rate to rise in Europe next year after eerily quiet 2019

    Default rate to rise in Europe next year after eerily quiet 2019

    Europe will probably see an increase in rates of corporate defaults in 2020 as credit quality deteriorates. Moody’s expects the rate of defaulting junk-rated issuers to triple, pushing the figure above the long-term average after an extraordinarily quiet year.

  • People moves in brief

    People moves in brief

    Barclays’ head of corporate broking leaves — ESG finance academic joins Barings — Morgan Stanley ratings banker heads for exit

  • CMBS issuers bring $6bn of supply to close out 2019

    CMBS issuers bring $6bn of supply to close out 2019

    CMBS issuers are flooding the primary pipeline in the last weeks of 2019, with three deals totalling $3.6bn priced Wednesday afternoon and another four transactions queuing up to close out the year.

  • Intu the mire as distressed buyers circle UK property co

    Intu the mire as distressed buyers circle UK property co

    GlobalCapital understands distressed debt buyers are seeking advice on how to target debt issued by intu Properties, especially its 2022 convertible bonds, now trading below 70, as the shopping centre company reels from the wave of restructurings and rent reductions by some of UK’s largest retailers.

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