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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Portfolio incomes in Barclays’ Gemini Eclipse 2006-3 are continuing to fall, sparking downgrades of the deal’s A, B and C tranches, with the deal now relying on its liquidity facility to cover investor interest payments on the notes.
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One of Europe’s largest ever securitisations, the €4.46bn outstanding German multi-family GRAND CMBS, is a step closer to being restructured after the six largest noteholders agreed on a plan.
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Leverage on conduit loans to be securitized in the third quarter will likely be higher than it was in the second quarter, leading to more credit enhancement needed to achieve similar ratings, according to Moody’s Investors Service.
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The Commercial Real Estate Finance Council Europe will launch market principles for European CMBS 2.0 later this month, with the aim of boosting flagging new issuance volumes in the region’s commercial mortgage securitization market.
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After a rally on the day restructuring plans for GRAND, Europe’s largest commercial securitisation, were announced, analysts who have looked through the documents have also reacted positively to the strategy.
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Price talk for the latest conduit commercial mortgage-backed securities deal in the market is coming in 10 basis points tighter than the previous offering.
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The prolonged low interest rate environment amid a weak recovery is forcing U.S. banks operating with excess liquidity to reinvest additional cash into their securities portfolios, particularly mortgage-backed securities, according to Fitch Ratings.
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Clydesdale Bank will begin roadshowing its second post-crisis U.K. residential mortgage-backed securities trade, Lanark Master Issuer Plc Series 2012-2, Thursday, with the issuance size expected to be in the region of £750 million ($1.16 billion) equivalent.
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Morgan Stanley and Bank of America are preparing a conduit commercial mortgage-backed securities deal featuring a $180 million loan on the Legg Mason tower in Baltimore and are expected to price the $1.3 billion offering by the end of the week, according to materials shared with investors.