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
More articles
-
Blackstone has inked a $7.6bn agreement to buy Gramercy Property Trust, a real estate investment trust that focuses on industrial commercial properties — an asset type Blackstone has brought to the securitization market several times this year. -
Clifden IOM No.1, an opportunistic fund seeking to pile into pre-crisis and distressed CMBS Fairhold Securitization, announced Thursday that it intends to mop up £104m of class ‘A’ bonds with a revised offer of 54.5.
-
Taurus 2018–IT, a Blackstone sponsored CMBS secured on Italian real estate and led by a Bank of America Merrill Lynch, achieved tight pricing on Tuesday across the capital structure, demonstrating investor demand for rare European CMBS paper.
-
Wells Fargo and Barclays priced their latest conduit CMBS deal on Tuesday, with senior spreads at the wide end of the recent range. With just one more conduit deal in the pipeline, some analysts expect light volumes to drive spreads tighter.
-
Eddystone Finance plc, one of Sainsbury’s two pre-crisis sale leaseback securitizations, has been fully repaid according to a quarterly bond report published this month. The news comes as the grocery chain announces plans to merge with domestic competitor Asda.
-
Investors are lining up to buy the bonds across the capital stack in the third European CMBS transactions of the year.
-
Four new CMBS deals are in the works this week, with three backed by single loans. A slowdown in refinancing opportunities, rising rates and fewer issuers are keeping a lid on conduit issuance, although investors say this is helping to maintain underwriting standards.
-
Citi’s co-head of CMBS Paul Vanderslice, who had been with the bank for over 25 years, has left to become chief executive officer of Cantor Commercial Real Estate.
-
KKR Real Estate Finance Trust announced on Wednesday that it had sold almost 90% of its portfolio of CMBS ‘B’ piece investments, with a dedicated ‘B’ piece fund now doing the bulk of the firm’s buying in that area.
