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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U.K. supermarket chain Tesco is issuing to third party investors this year’s first newly structured commercial mortgage-backed securities, the £950 million ($1.43 billion) Tesco Property Finance 3.
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The Bank of England has urged smaller U.K. building societies to issue multi originator mortgage-backed securities to solve the country’s estimated £750 billion ($925 billion) refinancing requirement.
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How is trading CMBS today different than it was five years ago? There is significantly more price volatility today. A big part relates to the market meltdown and the anxious disposition of investors postmarket meltdown. In general, there is less overall confidence, which leads investors to want to shoot first and ask questions later. That is not only true for CMBS, but practically all financial markets.
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A key provision in the banking reform bill to exclude the commercial mortgage-backed securities market from a 5% retention requirement for securitizations has made it into the final version of the legislation.
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Standard & Poor’s will start rolling out its new structured finance identifier for all its newly rated securitizations from September.
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A disagreement between the Association for Financial Markets in Europe and the European Securitization Forum has developed over proposed changes to the post-trade disclosure regime for structured finance, the first split since the organizations merged last year.
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HSBC has hired Credit Suisse’s Lyndon Hsu, to head its leveraged finance business in Asia.
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Austin, Texas-based Amherst Securities is eyeing loan origination and distressed debt purchases as the next step in building out its commercial mortgage-backed securitization platform.
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Price talk on Bank of America and JPMorgan’s joint $650 million AAA-rated commercial mortgage-backed securitization on One Bryant Park is swaps plus 155 basis points.