CMBS Breaches Raise Specter Of New Investor Conflicts (update)

Growing numbers of European commercial mortgage-backed securitizations facing loan-to-value covenant breaches are raising the concern of conflict between different classes of investors.

  • 12 Sep 2008
--Alex Sebastian

Growing numbers of European commercial mortgage-backed securitizations facing loan-to-value covenant breaches are raising the concern of conflict between different classes of investors. Not curing the breaches will often lead to an event of default and could mean the deal’s waterfall of payments becomes completely sequential, putting the ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%