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 ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%