BAML gets tight pricing for Blackstone Italian CMBS

Taurus 2018–IT, a Blackstone sponsored CMBS secured on Italian real estate and led by a Bank of America Merrill Lynch, achieved tight pricing on Tuesday across the capital structure, demonstrating investor demand for rare European CMBS paper.

  • By Asad Ali
  • 02 May 2018

The double-B and single-B rated tranches, in particular, saw significant spread tightening compared to the first Blackstone Italian CMBS seen this year, Pietra Nera Uno S.r.l.

While a breakdown of the investor base has yet to be shown, fund managers are likely to feature heavily given the attractive ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 79,222.71 230 11.49%
2 Bank of America Merrill Lynch 65,088.22 185 9.44%
3 Wells Fargo Securities 55,825.35 161 8.10%
4 JPMorgan 52,873.25 155 7.67%
5 Credit Suisse 44,197.08 113 6.41%