Latest news
Latest news
Agar previously worked at Guggenheim Securities
Creafin restarts the Belgian RMBS market, and CLO tiering has not yet materialized
Deals fully backed by multifamily assets are in vogue
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The CMBS market took the surprise US presidential election result as an opportunity to pick up bonds on the cheap, with spreads tightening in the immediate aftermath of Tuesday’s vote.
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Morgan Stanley is in the market this week with a $725.57m conduit CMBS transaction that will test a vertical risk retention structure, as market participants say that a horizontal model is proving to be a tough sell for both issuers and investors. -
A number of single family rental (SFR) properties were damaged by the devastating Hurricane Matthew but, according to Moody’s, the effect on transactions should be minimal.
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The US housing market saw a slowdown in construction as new build starts fell for a second straight month in September.
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As the US CLO and CMBS markets debate the viability of horizontal versus vertical risk retention, the market is quietly discussing a third solution to this year’s favourite fixed-income conundrum.
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Deutsche Bank priced the first ever single asset CMBS offering to comply with risk retention rules late last week, giving the market the first glimpse of what a deal tied to a single property will look like under the new regulatory regime.
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The US CMBS market has been steadily widening since a summer rally pushed spreads on the bonds to the tightest levels of 2016, with new issue benchmark triple-As widening out by over 20bp since then.
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Barclays has structured a 57 loan CMBS totalling £2.44bn ($3.6bn), which will be largely retained by the bank, just a few days after the Bank of England opened up its Term Funding Scheme to offer low cost liquidity to UK banks.
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Lloyds has told GlobalCapital that a lawsuit which could cost it £275m ($357m) does not have merit, and promised to contest the suit vigorously.
