Latest news
Latest news
The rise of the European master trust and the CLO market nears shut down
The trade is EdgeConneX’s euro debut, the first Dutch data centre ABS, the first data centre CMBS structure and the first master trust structure
'Super wide' guidance on triple-As brings in orders twice the tranche size
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Asset manager AllianceBernstein has criticized the viability of shorting the CMBX.6 index, nicknamed the “next big short” by proponents of the trade, arguing that the decline of US shopping malls has been greatly exaggerated. -
The next economic downturn will be much more severe than the last financial crisis, predicted Dr. Edward Altman, a professor of finance at NYU Stern School of Business. That companies have twice as much debt outstanding as they did before the last crisis was the critical factor, he said.
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The European Commission has approved Greek plans to set up a scheme called Hercules to enable the country’s banks to cut their non-performing loan (NPL) exposures.
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Blackstone this week priced the largest CMBS transaction since the financial crisis, selling bonds totalling $5.6bn backed by a portfolio of warehouses it acquired from real estate asset manager GLP in June.
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Blackstone is in the market this week with a $5.6bn CMBS deal backed by a portfolio of industrial properties, the largest commercial mortgage bond issuance since 2014.
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Logicor, the UK and European logistics group owned by China Investment Corp and Blackstone, is marketing a secured bond of up to £900m this week to take out some existing debt, hitting the market window ahead of expected disruption around the UK’s EU exit date of October 31.
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Bank of America Merrill Lynch is bringing the third deal of the year from its Taurus CMBS shelf, with the transaction this time around backed by UK student housing.
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Deutsche Bank managed to syndicate the maximum amount possible of its loan against a UK shopping centre, where one of the largest tenants is troubled department store Debenhams, defying a deep gloom about retail in general and the UK economy ahead of Brexit.
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Orrick, Herrington & Sutcliffe has hired a structured finance lawyer to join its team from Ropes & Gray, the firm's third London hire in a month.
