Most US CMBS “refi wave” loans well positioned: Moody’s

The soon-to-crest “refi wave” in US CMBS will have loan maturities in excess of $12 billion per month, according to a new report from Moody’s Investor’s Service. And without a significant disruption to the market in the coming months, most of these maturing loans are well positioned to pay off.

BAML releases indicative pricing for second European CMBS of 2016

The AAA notes indicatively priced at 120-130 basis points over three-month Euribor.

Six Canadian CMBS deals in the line of fire

Sweeping wildfires have led Fitch Ratings to place six CMBS transactions backed by properties in Alberta, Canada on watch. The wildfires, ignited by an unusually dry winter, have been ravaging the oil town of Fort McMurray in Alberta, Canada the past several days.

Down but not out: CMBS stages a comeback

Despite some blunt assessments on the outlook for CMBS, room for optimism remains as spreads chart impressive reversal. As I walked the floor at CREFC’s High Yield & Distressed Realty Assets Summit in Manhattan back in March, I recall distinctly how one industry acquaintance bluntly summarized the mood of the event: “This is depressing, isn’t it?” […]

Wells Fargo securitizing $703m CMBS with significant retail concentration

Retail properties represent the highest property type concentration in this transaction, 31 loans or 38 percent of the pool, and a high concentrations of a single property type could lead to increased volatility, according to Fitch.

US CMBS spreads tighten, but significant hurdles remain

The CMBS industry is watching intently as spreads finally tighten, but rating agencies aren’t yet convinced that any sustained improvement lies ahead.

Credit ‘bar-belling’ continues with new $771 million CMBS conduit

A new CMBS conduit transaction demonstrates how “Credit Bar-Belling," or using a lower leverage investment grade (IG) loan to compensate for increases in riskier loans, continues unabated among CMBS loan pools.

BAML sells first European 2016 CMBS at improved AAA pricing

Bank of America Merrill Lynch has sold the first CMBS of 2016, with the AAAs pricing tighter than the bank’s initial guidance.The bank sold the €141.6 million AAA tranche at a 130 basis points margin over three-month Euribor, which was tighter than its indicative pricing of 140-150 bps released on 7 March.

US CMBS posts strong week despite ongoing struggles

US CMBS trading activity rebounded last week with over $800 million out for bid following one of the slowest non-holiday weeks in years, according to Trepp.

BAML releases indicative pricing for German retail CMBS

Bank of America Merrill Lynch (BAML) has released initial price thoughts for its latest CMBS, the €317.05 million Taurus 2016-1 DEU which is backed by a German retail portfolio owned by Blackstone.

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