Monthly Archives: August 2013

JPMorgan takes up to 90% of Deutsche Bank’s agency €406.1m Monnet Finance CMBS

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Deutsche Bank is expected to imminently close the €406.1m Monnet Finance Limited agency-style CMBS, with JP Morgan expected to take up to 90% of the new German multi-family secured issuance, CoStar News understands. Monnet Finance Limited is a re-securitisation of … Continue reading

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National Australia Bank sells £140m notes in CityPoint CMBS to Morgan Stanley

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National Australia Bank (NAB) has sold a £140m slice of the class A notes in Ulysses ELoC 27, the securitisation of a loan secured by CityPoint tower, formerly owned by Beacon Capital Partners, to Morgan Stanley’s CMBS trading desk at 92 … Continue reading

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Co-op ‘kitchen sinks’ £709m losses ahead of crunch debt-for-equity offer

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The Co-operative Bank’s pre-tax losses have spiraled to £709m for the first six months of this year, driven by almost £500m in loan impairment charges, a substantial proportion of which stems from the mutual bank’s enlarged non-core predominantly commercial property loan book. … Continue reading

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Barclays’ “somersault” on Theatre voting rights fails to sway High Court judgement

Barclays Bank’s attempt to block itself from voting in the imminent restructuring vote for General Healthcare Group’s (GHG) vastly-complex £1.5bn debt stack has failed after a High Court written judgement rejected the bank’s “a hundred per cent u-turn”. Justice Peter … Continue reading

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BayernLB closes €1bn of new business in H1 as net loan book shrinks €2bn

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BayernLB Group closed €1bn in new business over the first six months of the year, although the bank’s net European commercial real estate loan book reduced by €2bn to €47.1bn over the period driven by targeted reductions in non-investment grade … Continue reading

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Deutsche Bank set to close €386m Quokka re-securitisation next week

Deutsche Bank is refinancing the remaining unpaid balance of the maturing Quokka Finance CMBS, in a slightly enlarged €386m unrated re-securitisation which is expected to close by the end of next week. BGP Investments, the holding company for legacy joint … Continue reading

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Creditors reject IVG’s €2.1bn debt-for-equity swap proposal

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IVG Immobilien is to file an application with the Bonn District Court for protection against its creditors, including a raft of private equity and hedge funds, and proceed with a court-supervised restructuring after a €2.1bn debt-for-equity swap vote last night … Continue reading

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Situs hires JP Morgan’s Chip Good as expansion trajectory continues

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Situs has recruited JP Morgan executive director Chip Good as director of special servicing, as the real estate loan servicer and advisory firm seeks to further deepen its footprint on both fronts throughout Europe. Good move to Situs brings to … Continue reading

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NAB’s Clydesdale and Yorkshire property loan books shrink by £1.2bn

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National Australia Bank (NAB) has shed £1.2bn of UK commercial property loans in the last 10 months leaving a legacy regional portfolio of £4.4bn, which the Australian bank expects to run-off until maturity over the next five years. Net of … Continue reading

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