Novel mortgage bond refinances Lumière loan
A bond secured by a mortgage on the largest privately-owned office building in Paris has fully refinanced the partly securitised €372m Lumière loan and could pave the way for similar transactions.
Around 90% of the 472m bond was bought by French insurance companies Cardif, CNP and Predica and the rest was allocated to BNP Paribas, which acted as arranger, structuring consultant and sales agent.
The bond, which is a five year bullet, is backed by the mortgage on
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