Latest news
Latest news
Blackstone priced its social housing CMBS while Yondr debuted in data centre ABS
Blackstone is targeting a quicker than usual three day execution
Triple-As were priced at 170bp over Sofr, close to guidance
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White Tower 2006-3 has breached its loan to value covenant after an updated valuation revealed a 49.3% decline in the portfolio’s market value to £929m. Unless the breach is cured within 10 days, it will trigger a loan event of default.
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UK retailer Tesco reopened the catatonic CMBS market this week with a hugely oversubscribed £430.65m sale and leaseback. But the deal’s structure suggests that a renaissance for the asset class is some way off.
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The first European commercial mortgage-backed securities deal to be marketed to third-party investors since 2007 is making the rounds.
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New York-based broker-dealer Beacon Capital Markets is set to begin trading secondary asset-backed, non-agency residential mortgage-backed and commercial mortgage-backed securities July 10.
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Yet more triple-A tranches of UK CMBS came under pressure this week as the rating agencies acted in the face of tumbling market values and rocketing loan-to-value ratios.
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A Société Générale commercial mortgage-backed securities deal has had more than half of its bonds downgraded to junk status as rating agency analysts expect an event of default to hit the single loan which backs the transaction.
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Boston-based Standish Mellon Asset Management, the fixed-income unit of BNY Mellon Asset Management, said it will begin investing in the Term Asset-Backed Securities Loan Facility in July through two targeted investment strategies.
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Issuers of the Citigroup-arranged Bluebonnet Finance commercial mortgage-backed securities deal may be nearing a solution to its liquidity facility bind after months of being without one.
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Standard & Poor’s put 165 tranches of 38 European CMBS issues on CreditWatch Negative this week after completing its review of transactions issued in the second half of 2006.