Latest news
Latest news
Shelf’s first 10 year deal since 2017 finds strong reception amid duration scarcity
This is the first wholly retail-backed CMBS of 2025
Participants see issuance pace of RMBS and CMBS to persist as spreads grind in despite macro risks
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Sole arranger Bank of America has added £104.5m to Taurus 2021-4, a UK logistics CMBS sponsored by Blackstone, ahead of pricing on Thursday. The deal had trouble matching subscription levels seen for logistics CMBS at the beginning of the year, but demand came in strong lower down in the capital stack, reflecting a shift in investor preferences as the UK economy reopens. -
French alternative asset manager Tikehau Capital has closed its second European special opportunities fund at €617m, with a broad mandate which allows flexibility to push into several corners of capital markets.
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The three-year restructuring plan for four Intu shopping centres is set to see cash poured into London, Nottingham and Glasgow retail hubs after the group collapsed into administration in June 2020. But CMBS noteholders are set to see yields recover to only 60% of the outstanding amount by the time of a likely asset sale, bringing into doubt the prospect of future shopping-centre securtiizations.
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Real estate asset manager Blackstone has mandated Bank of America for Taurus 2021-4, a UK logistics CMBS.
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Bank of America's former Dubai-based head of Middle East and North Africa debt capital markets has relocated to New York, where he will be covering DCM for US financial institution clients.
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Viridis, the £148m Brookfield and China Life-sponsored CMBS backed by Aldgate Tower in central London, is set to be priced towards the wide end of initial price thoughts.
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After one of the busiest quarters for ABS since the financial crisis, many market participants are eyeing a short break in August in anticipation of a slower market. The combination of working-from-home culture, lack of travel opportunities and physical meetings has prevented many in the market from taking a break.
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Hurricane Energy’s restructuring plan has been thrown out by the High Court, in a victory for shareholders led by activist fund Crystal Amber, which are now poised to replace the board of the troubled oil drilling firm. The judgement underlines the care with which companies must exercise when seeking to use the new ‘cross-class cramdown’ features of the UK’s restructuring law.
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Morgan Stanley is refinancing a loan secured on the Aldgate Tower in London, which hosts Uber and nine other tenants, marking the first time the market has tested investor appetite for London office-backed CMBS since the Covid-19 outbreak.
