Commercial MBS


Two Issuers Price $2B of CMBS

Morgan Stanley and Bank of America Merrill Lynch priced a $911 million conduit backed by 65 loans on 100 properties; Deutsche Bank and Cantor Fitzgerald also priced $1 billion-plus deal.

JP Morgan, Barclays Pay No Price for Split Rating on CMBS

A split rating at the senior note level had no apparent impact on investor demand for the latest offering of commercial mortgage bonds from JP Morgan and Barclays.

Mall of America Backs $1.4B CMBS

Triple Five Group is offering up securities backed by a $1.4 billion commercial mortgage that is secured by the Mall of America, a 2.8-million-square-foot super regional mall in Bloomington, Minn.

Deutsche Bank Readies €250M CMBS

Deutsche Bank plans to issue €250 million ($324 million) of securities backed by two commercial mortgage loans that are secured by 20 properties, according to a person familiar with the deal.

Goldman Sachs, Citigroup Price $925M CMBS

The super senior 10-year tranche of GSMS 2014-GC24, rated Aaa/ AAA/ AAA by Moody's Investors Service, Kroll Bond Rating Agency, and Morningstar, priced at swaps plus 87 basis points.



Reg AB II Returns from Limbo

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

Finra Files Proposal to Disseminate Price Data

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.

Editor's Letter

As July came to a close, it was clear to everyone at ASR that the structured finance market was not about to take a vacation.

People on the Move

DFG Taps Goldman Vet, Barclays Bulks Up on CMBS, Ares Adds Jeffrey Kramer and the ASF Retains Mike Williams as Policy Adviser

Silver Lining

Could higher yields end up deepening the investor base for asset-backeds?


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China Auto Securitization Gears Up

As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.

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