The benchmark long-term super-senior AAA-rated bonds in an $875-million CMBS conduit offering led by Wells Fargo priced at 165 basis points (bp) over swaps, matching the level achieved in the previous multi-borrower CMBS issue from Bank of America and Morgan Stanley that priced on February 12. In … [Read more...] about 2.17.16: CMBS Prices Stabilize
7.9.13: Swap Rates and Loan Spreads Stabilize…for Now
After the 10-year Swap Rate (Swap) Index used to set CMBS conduit rates jumped from 2.37% to 2.60% on June 19 while Federal Reserve Chairman Bernanke spoke at a press conference and further spiked to 2.86% on Monday, June 24, the index has settled into a range of 2.80%-2.90%. Since the July 4th U.S. … [Read more...] about 7.9.13: Swap Rates and Loan Spreads Stabilize…for Now