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 13,823 26 18.14
2 Bank of America Merrill Lynch (BAML) 8,207 26 10.77
3 Lloyds Bank 7,202 22 9.45
4 Citi 6,256 16 8.21
5 JP Morgan 5,220 8 6.85

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 105,474.10 301 10.96%
2 Bank of America Merrill Lynch 86,762.28 250 9.02%
3 JPMorgan 81,465.60 238 8.47%
4 Wells Fargo Securities 77,934.65 225 8.10%
5 Credit Suisse 63,570.21 165 6.61%