Hoist Finance, a Sweden-based debt restructuring firm, has been marketing its debut securitization through Deutsche Bank — an essential part in the firm’s attempt to recover from a regulatory broadside which landed last year.
Morningstar Credit Ratings and DBRS have announced the appointment of the heads of their combined RMBS and CMBS groups following Morningstar’s acquisition of its Canadian rival in May.
A loan on the Westfield Stratford shopping centre in East London, last securitized in a 2014 CMBS, is being refinanced, with BNP Paribas and HSBC announced as arrangers for a new £750m ($940m) dual tranche offering.
Greencoat Investment, a vehicle associated with Rizwan Hussain's attempts to take control of a pre-crisis CMBS, was dealt a blow this week when a court rejected its application to put the deal into administration. The move, for now, puts paid to efforts to persuade bondholders to tender their holdings.
Citi is preparing to issue CGCMT 2019-PRM, a $278m single borrower CMBS deal backed by a portfolio of self-storage properties.
German heat exchanger firm Galapagos, which is deep in negotiations over a debt restructuring, accidentally paid a coupon to bondholders last month, despite a deal with secured creditors to waive the payment ahead of a bid to tackle its debt load. Meanwhile, unsecured bondholders rejected proposals from the company and its secured creditors, leading to a threat from Galapagos that the bondholders will be wiped out.
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Most Viewed: Securitization
Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|5||Bank of America Merrill Lynch (BAML)||2,086||9||7.98|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Bank of America Merrill Lynch||41,109.55||134||7.53%|
|4||Wells Fargo Securities||40,627.46||119||7.45%|