Forum Spotlight: IG Bondholders
November 19, 2024
The IG Bondholders Forum’s Leadership Working Group, which includes Rajesh Bansal (Forum Chair), Adam J. Smith (Chair-Elect), and Richard Razza (Past Chair), sets agendas and priorities for the Forum and represents investors on CREFC’s Policy Committee.
Key Investment-Grade Bondholder Focus Areas:
- CRE CLO Surveillance: The CRE CLO Surveillance template is being developed to provide standardized information to investors in a usable Excel-based format. CREFC will host a meeting at the January conference in Miami to solicit additional feedback from all constituents. We aim to have the first draft of the surveillance file ready for use by Q1 2025.
- Ongoing dialogue with stakeholders of the forum (IG investors) to understand their concerns and identify solutions.
- The Leadership Group is concerned with loan extension risk due to higher interest rates. Notably, corporate single-A rated bonds continue to outperform AAA-rated CMBS.
Looking ahead, leaders are focused on working with servicers and trustees to improve responsiveness and access to loan and deal information in a timely manner.
What’s next: Forum leaders look forward to presenting CREFC members with an update on their market sectors in Miami. As June 2025 approaches, the chairs will seek nominations for the next Chair-Elect to join their leadership slate.
To join the IG Bondholders Forum, please register here.
For any forum-related questions, please contact Rohit Narayanan (RNarayanan@crefc.org).