BAML CMBS rekindles old payment debate

The year’s first European new issue CMBS, Bank of America Merrill Lynch’s Taurus 2013, has reignited discussions about how banks originating and securitising deals should pay themselves.

  • 03 May 2013

Some bankers were frustrated by the inclusion of a detachable coupon in Taurus, claiming junior noteholders could suffer if there were shortfalls. But other CMBS specialists recognised that loan originators needed an incentive to bring deals to market.

Taurus 2013 CMBS securitises a loan originated in February for ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 1,560.67 2 10.70%
2 SG Corporate & Investment Banking 1,445.74 4 9.92%
3 Wells Fargo Securities 1,187.61 3 8.15%
4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%