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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Karsten Kibbee, the head of Société Générale’s commercial mortgage-backed securities business, and two other professionals in the residential mortgage-backed business, have left the firm.
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The Royal Bank of Scotland has cut three-quarters of its commercial mortgage-backed securities team as part of reductions to its global banking and markets division that has claimed 200 professionals.
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DSP Merrill Lynch Capital has come to market with an INR999.6 million ($24 million) commercial mortgage-backed securities deal backed by a loan to Indian building company DLF.
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Unless the CMBX derivative index starts to offer information about daily trading volumes, portfolio managers believe more insurance companies will move toward making direct commercial loans rather than investing in more volatile commercial mortgage-backed securities.
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The British Broadcasting Corporation’s commercial mortgage-backed securities deal, Juturna, has had its ratings knocked down to AA from AAA after MBIA, which wrapped the transaction, suffered the same downgrade to its insurer financial strength rating last week.
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It’s been smooth sailing to date for refinancing fixed-rate loans, according to a recent report from Fitch Ratings.
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JPMorgan is adding a co-head of global securitized products from Bear Stearns. Mike Nierenberg, head of foreign exchange and rates at Bear Stearns, will now co-head the global securitized products business with Bill King.
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The Japanese structured finance market saw a commercial mortgage-backed security, L-JAC 7, close this week.
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RBC Capital Markets and Barclays Capital have closed a £109m securitisation of a natural gas pipeline in Northern Ireland.