German Tax Reform To Hit CMBS Prepayment And Restructuring Levels

Commercial mortgage-backed deals issued in 2008 and 2009 will likely suffer from higher prepayment or restructuring activity in the German market thanks to German tax reform effective next year.

  • 15 Aug 2007

-- Daniel Flatt

Commercial mortgage-backed deals issued in 2008 and 2009 will likely suffer from higher prepayment or restructuring activity in the German market thanks to German tax reform effective next year. Moody’s Investors Service expectsthatthe corporate tax reform recently approved by the German Parliament will lead ...

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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

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1 Citi 84,503.31 246 12.96%
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4 JPMorgan 46,548.88 148 7.14%
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