Latest news
Latest news
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
The rise of the European master trust and the CLO market nears shut down
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For the first time since the financial crisis, spreads in certain European commercial mortgage-backed bonds have pulled in tighter than the cost of funding margins on underlying property loans, raising hopes of revived new issuance in the still-tricky primary CMBS market.
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A refinancing plan for €4.5bn of debt for one of Europe’s largest multi-family CMBS looks set to win bondholder backing, Barclays ABS analysts said in research on Tuesday.
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The Nebraska Investment Council is gearing up for management and allocation changes to its roughly $693 million fund, as well as looking to make opportunistic investments in residential or commercial mortgage-backed securities as its five-year-old distressed MBS investments wind down, according to sister publication Foundation & Endowment Intelligence.
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Europe’s securitization market saw solid trading of bonds from a bids-wanted-in-competition list stacked with prime resi paper from U.K. building societies, while U.K. non-conforming and buy-to-let bonds also piqued traders’ interest in secondaries this week.
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Fitch Ratings has bashed the ratings of a new commercial mortgage-backed securities deal, stating that it would have rated the senior class of NorthStar 2012-1 at least two grades below what was assigned by Moody's Investors Service andStandard & Poor's.
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Moody’s Investors Service has downgraded the D, E and F classes of bonds from the EUR5.8 billion German Residential Asset Note Distributor commercial mortgage-backed securities trade—the largest outstanding deal in the market—after deteremining the proposed restructuring of the deal would constitute a distressed exchange.
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NIBC Bank now owns all class B, C, D, E and F subordinated and mezzanine notes in its Dutch residential mortgage securitization SOUND I, and 99.42% of the class S notes, in a buyback that totalled EUR48.8 million ($63.2 million).
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A refinancing plan for €4.5bn of debt, for one of Europe’s largest multi-family CMBS, looks set to win bondholder backing, Barclays ABS analysts said in research on Tuesday.
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Deutsche Bank’s Deco 6 U.K. commercial mortgage-backed securities trade has seen ratings on three of its tranches cut by Moody’s Investors Service as a result of sustained falling values in its underlying assets.