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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About $2.3 billion of loans were requested to buy legacy commercial mortgage-backed securities at the most recent subscription period for the Term Asset-Backed Securities Facility, according to the New York Federal Reserve Bank.
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The $3.5 billion San Diego City Employees Retirement System will meet with Smith Breeden Associates this week to discuss fixed-income opportunities available through the Term Asset-Backed Securities Loan Facility.
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Recent bankruptcy court rulings where Lehman Brothers was a counterparty to CDOs may lead to a cap on ratings for synthetic securitisations with US counterparties, according to Fitch.
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Spreads are tightening on junior AAA-rated CMBS, with a recent $761 million bid list demonstrating that mezzanine and junior triple-A rated bonds have come in as much as 10 to 25 basis points over the past three months.
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Robert Abdel-Malak, the cfo of global securitized products at Bank of America Merrill Lynch, has joined Nomura Securities in New York.
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Deutsche Bank recently tapped Grace Wong, executive director of credit sales from Morgan Stanley, for a similar sales role within the German firm.
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Greg Matthews, who headed the securitized products group at AIG Investments, has left the insurer.
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Cures of CMBS covenant breaches are rare this late in the credit crisis but last Friday Barclays Capital, the servicer of Indus (Eclipse 07-1), announced that just such an event had occurred.
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Sunrise Securities, a New York-based boutique investment bank, is starting up a structured products business as part of a broader fixed-income buildout.