CMBS spreads reached a two-year high amid high levels of issuance and volatility in world capital markets. The long-term, super senior bonds from the most recent offering, led by Wells Fargo and Societe Generale, priced at a spread of 120 basis points (bp) over swaps. This level was the same as the … [Read more...] about 8.18.15: CMBS Prices Continue to Weaken, But Rebound Expected
8.7.13: Blackstone Is Expected to Sell Hilton in IPO
As private equity firms rush to cash in on their investments, the Blackstone Group is moving to sell one of the biggest companies to go private in recent years. Hilton Worldwide, the hotel giant that Blackstone bought six years ago, has begun preparations for an initial public offering (IPO), people … [Read more...] about 8.7.13: Blackstone Is Expected to Sell Hilton in IPO
6.10.11: Tighter Spreads Expected on Upcoming Conduit Deal
The senior spreads on a $2.1-billion CMBS offering by UBS, Deutsche Bank and Ladder Capital are shaping up to be slightly tighter than those on another multi-borrower issue that priced last week. The second offering of the year from this trio of lenders is slated soon, following another week of … [Read more...] about 6.10.11: Tighter Spreads Expected on Upcoming Conduit Deal