HSBC readies launch of fourth CMBS for Silver Maple

Newest Singapore CMBS deal expected to hit market by the end of the week.

HSBC has wrapped up roadshows for a seven-year dollar-equivalent S$433 million $256 million commercial mortgage-backed securitization CMBS for CapitaMall Trust. The deal will be the fourth issuance from the secured medium term note facility via Silver Maple Investment Corp.

The soft bullet structured deal has a legal final maturity of 2014 and will also include a S$70 million revolving credit facility.

It will also mark the fourth international Reit securitization out of Singapore so far this year following the success earlier this year of retail operators Prime and Suntec City and industrial property manager Ascendas. Who launched Eu320 million, Eu190 million and Eu165 million deals, respectively.

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