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The securitisation of debt linked to a logistics property achieved 75bps for its highest-rated notes, following a trend of constricted prices in the market.
BAML and Morgan Stanley launch €338m loan securitisation in a transaction sponsored by Blackstone – the seventh this year in the resurgent European securitisation market.
There will be more securitisation, although the market faces challenges, heard the audience at CREFC Europe’s CMBS seminar.
The US bank has made a swift return to Europe’s CMBS market with an office deal in the Netherlands.
The return of CMBS creates additional liquidity for the European market, but its scope should remain selective.
Longhurst Group will use the capital to deliver 700 affordable homes per year over the next six years.
Lenders are returning to the European securitisation space as senior pricing tightens.
The bank will securitise a large portion of three loans sponsored by Blackstone and Partners Group.
Citi and Morgan Stanley have securitised debt written against a Finnish property platform.
The senior 10-year notes carry a 1.5% coupon.