Latest news
Latest news
US market remains the model as template issuance takes shape
Deal is backed by three data centers in Virginia, Illinois and Atlanta
Tightest CMBS print in nearly a year ahead of Yondr data centre ABS debut
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Extra MSA Group, which owns a portfolio of 18 motorway service areas (MSAs) in the UK, has securitised half of them in a private £220m commercial mortgage-backed bond just before Christmas. -
Standard & Poor’s became the second ‘big three’ ratings agency to cut UK supermarket group Tesco to junk status last week, and its commercial mortgage-backed debt is suffering the consequences.
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A San Francisco Bay area portfolio manager is readying his firm’s first dedicated securitized asset fund, focusing on esoteric ABS, as well as RMBS and CMBS and some CLOs.
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Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.
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Trepp and Markit have teamed up to launch two CMBS indices in the US, available at the end of January, to cover the performance of deals at issuance and reflect trading of liquid CMBS transactions.
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Morgan Stanley’s Zephyrus (ELoC 30) CMBS, which was priced just before Christmas, includes extensive waivers of sanctions liability — for a deal which is only exposed to UK commercial property.
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JP Morgan’s latest CMBS deal represents a market trend in which issuers have sold investors cheaper deals backed by weaker collateral, market participants say.
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Proceeds from the largest loan left in Titan 2006-2 will flow through to noteholders in January, but the hefty costs of enforcing the loan and selling the property means noteholders are likely to see losses. The property sold for €268m almost a year ago, but CMBS noteholders are only set to recover around €239.5m, 90.58% of the outstanding loan amount.
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The restructuring of two UK hospital property securitizations, Theatre (Hospitals) No 1 and 2, has finally been executed by most of the parties to the deal, with the restructuring adviser, Lazard, circulating the agreement to the final parties in a notice published on Tuesday.
