CapitaMall Trust (CMT), the real estate investment trust (REIT) established in 2002 by Singaporean property company CapitaLand, has selected HSBC to arrange a five-year S$370 million (US$215 million) CMBS deal. The transaction will be CapitaLand's seventh securitization in total and CMT's second, following a $164 million offering that closed in February.
According to market chatter last week, the bidding for CMT's latest transaction was highly competitive, with several banks submitting proposals. Among those, two banks will be particularly disappointed to miss out. HypoVereinsbank (HVB) has arranged several deals for CapitaLand, including its most recent $155.6 million offering in April, while BNP Paribas was lead manager on CMT's debut transaction.