Latest news
Latest news
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
US market remains the model as template issuance takes shape
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Intu Properties, the UK’s biggest shopping centre owner, which has just changed its name from Capital Shopping Centres, is setting up a new secured debt issuance programme to refinance four of its malls.
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Regional mall properties continue to be the dominant single asset commercial mortgage-backed securities property type in 2013.
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Bayview Financial Friday priced its $101 million, fixed-rate residential mortgage-backed securitization of non-performing loans.
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The Mall Funding U.K. commercial mortgage securitization has seen its senior class A bonds downgraded from BB+ to BB by Standard & Poor’s as a result of falling rental income and a tight schedule on its property disposal strategy.
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Noteholders ranked below class ‘A’ in the Titan 2007-1 CMBS, which is backed by a portfolio of UK nursing homes, are unlikely to be repaid in full at the January 2017 maturity date, according to Barclays analysts. Explaining their conclusion, they cited a lack of cash flow, high capital expenditure and a falling portfolio valuation.
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Sato, the Finnish residential property developer and manager, has mandated Nordea Markets and Pohjola Markets to establish and market a new €500m secured MTN programme. Like the company and its previous bond, the programme will be unrated.
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Deutsche Bank’s DECO-7 Pan-Europe 2 commercial mortgage-backed securitization has seen its A2 tranche downgraded by Moody’s Investors Service, amidst growing concerns that the interest on the bonds will not be paid on time.
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The European Banking Authority has set out its proposals on how liquid assets—including high-quality residential mortgage-backed securities—should be defined under the Liquidity Coverage Ratio’s implementation in the EU next year.
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The loan backing the VanWall Finance UK commercial mortgage securitisation — launched by Deutsche Bank and Barclays in 2006 on a portfolio of Toys ‘R’ Us retail and distribution units — could be partially refinanced through a high yield structured bond with CMBS features.