Latest news
Latest news
Green securitizations have been prominent in CMBS this year
Rating cut as note pays more interest than planned
Inflation caused by war threatens budding recovery in commercial real estate
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Noteholders of White Tower 2006-3’s class D are likely to be fully repaid, while a partial repayment of the class C notes is expected at the next payment date.
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Bank of America has filed an appeal a recent high-profile court decision that is poised to give the sponsor of Concord Real Estate CDO 2006-1, a $414 million commercial real estate collateralized debt obligation, the ability to significantly alter the way funds flow through the vehicle to investors.
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True Sale International, a German organization that provides standardized platforms for securitization, has issued a new certification for deals that will exclude originate-to-distribute bonds from obtaining its approval.
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Sponsors and originators of securitizations will not be allowed to hedge against the 5% retained slice under the latest guidelines for article 122a of the capital requirements directive II.
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James Martin, director, London-based commercial mortgage-backed securities analyst at Bank of America, has moved to Barclays Capital.
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A cultural rift has reportedly developed in Bank of America’s London-based European structured finance team, leading to the departure of several Merrill Lynch members of the team.
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Tesco stepped up its quasi-CMBS programme this week, almost doubling its last deal to raise £950m backed by 41 UK supermarkets. The retail giant’s deal was effectively the year’s largest sterling corporate bond.
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At the eleventh hour, the restructuring of Fleet Street Finance No 2 has hit a stumbling block. The German CMBS is backed by properties occupied by insolvent retailer Karstadt.
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The long-running saga of Titan 2006-4FS, a UK care home backed CMBS which was among the first to run into trouble in the credit crisis, may be nearing its end. This week the issuer presented a restructuring proposal.