Standard & Poor’s said in a report today that they expect refinancing pressure to intensify for European CMBS as €16.5 billion ($22.6 billion) in loans is set to mature in 2013.

The lack of refinancing option has affected the European CMBS market since 2011.  Ganesh Rajendra, managing director, head of credit & mortgage strategy at RBS Securities  said earlier this week at the American Securitization Forum’s annual securitization conference, that in 2012, 15 percent of CMBS or CRE loans in conduits that came up for refinancing, defaulted. Most of the rest of loans that came due were restructured and extended.

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