Latest CMBS news

  • Irish government could claim Barclays synthetic CMBS after missed deadline

    The issuer of the CMBS, Juno(Eclipse 2007-2), missed the deadline for submitting its financial statements for 2017, along with its annual return on June 21, 2019. Most of the notes in the CMBS have now either defaulted or paid down, but whatever is left of the issuer's assets could be claimed by the Irish government, after the deal failed to produce sufficient proceeds in order to pay auditors responsible for submitting these required documents.

    • 24 Jun 2019
  • Argenta Spaarbank longer duration STS deal moves tighter

    European securitization investors this week are pricing longer duration deals tighter than earlier in the year, made comfortable by the ‘simple, transparent and standardised’ (STS) label. This is being demonstrated on Tuesday by Argenta Spaarbank's Green Apple RMBS deal.

    • 18 Jun 2019
  • More tiering needed in CRE CLOs, say panellists

    There is a need for differentiation in pricing between seasoned commercial real estate CLO managers and less experienced issuers, speakers said at a CRE Finance Council conference panel on Tuesday.

    • 12 Jun 2019
  • CREFC speakers talk shifting demographics

    CMBS and commercial real estate financiers gathered in New York for the annual CREFC conference on Monday. Shifting demographics in the US and their impact on the shape of the CMBS industry was a key theme that emerged on day one.

    • 11 Jun 2019
  • Finance Ireland debut overcomes stark rating split

    When Ireland’s largest non-bank lender, Finance Ireland, approached the market for its debut term securitization, Pembroke Property Finance, it had to overcome an issue which would have barely occurred pre-crisis — rating agencies which utterly disagreed about the quality of its deal. For S&P, the class ‘D’ notes were a solid A, while its second agency, Fitch, didn’t even consider the tranche investment grade.

    • 10 Jun 2019
  • Pepper Money brings first UK RMBS linked to Sonia

    Pepper Money has mandated Citi and National Australia Bank as arrangers for its non-conforming UK RMBS deal Polaris 2019-1, the first securitization of loans originated by Pepper UK in the region and the first from the issuer to be pegged to Sonia.

    • 06 Jun 2019
  • Goldman brings CMBS in from the cold

    Goldman Sachs announced on Friday that it is arranging a £282.8m CMBS named Cold Finance, a refinancing of a single loan to warehouse specialist Lineage Logistics. The deal has five rated tranches including a triple-A rated senior tranche.

    • 03 Jun 2019
  • SEC charges real estate developer with Ponzi fraud

    The Securities and Exchange Commission (SEC) said on Thursday that it was charging Robert C. Morgan, a commercial real estate developer who carried out substantial business with the government sponsored agencies' CMBS platforms, with Ponzi scheme-like fraud. The regulator has demanded an asset freeze and other civil penalties.

    • 23 May 2019
  • Blackstone Vivaldi CMBS prices wide of guidance

    Blackstone’s €222.23m Deutsche-led Vivaldi CMBS was priced on Tuesday evening, with senior notes sold at 190bp over three month Euribor, wide of the 100bp mark the issuer was aiming for at price guidance.

    • 22 May 2019
  • Investors get picky with European CMBS feast

    There have been over five CMBS announcements in the past week, making the second quarter of 2019 one of the busiest times in European CMBS since the crisis. But despite the surge of activity, some on the buyside say they are approaching the market with caution.

    • 21 May 2019

CMBS news archive

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 50,762.12 164 10.68%
2 JPMorgan 43,849.74 130 9.22%
3 Wells Fargo Securities 37,970.87 112 7.99%
4 Bank of America Merrill Lynch 36,015.87 117 7.58%
5 Credit Suisse 30,953.64 97 6.51%