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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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Santa Ana, Calif.-based asset management firm Carrington Mortgage Holding plans to sell a non-performing residential mortgage-backed securities deal into the primary market, with pricing expected by the end of the week.
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The Department of Justice’s lawsuit against Standard & Poor’s has sent the other rating agencies into their shells, with officials declining to discuss how it might affect their business plans and whether they are concerned they could be next in the cross-hairs, according to sister publication Real Estate Finance Intelligence.
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Bendigo & Adelaide Bank priced its AUD850.4 million ($879.1 million) prime Australian residential mortgage-backed securities trade, TORRENS 2013-1, late on Thursday, with European investors taking down over a fifth of the bonds.
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German real estate company Gagfah has decided it will not sell its €1.8bn Woba portfolio after finding a single counterparty, widely rumoured in the market to be Bank of America Merrill Lynch, willing to refinance the €1bn loan that backs the portfolio.
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Tesco sold £493m of bonds on Thursday secured by seven UK stores as part of a leaseback arrangement with a newly incorporated SPV. It is the sixth transaction of this type in recent years from the UK supermarket chain, which is keen to boost profits from its vast property portfolio.
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Punch Taverns will ask investors, swap counterparties, note guarantors and other stakeholders to approve a new restructuring plan for its Punch A and Punch B whole business securitisations.
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Morgan Stanley is shaking up its securitized products group in a play to bolster its position in the new-issue securitization market.
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Morgan Stanley is tapping a managing director in its Chicago office to head its securitized sales group.
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Tesco is readying Tesco Property Finance 6 plc, a credit-tenant linked commercial mortgage-backed securitization, with Goldman Sachs and Barclays co-arranging the deal.