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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.14
2 BNP Paribas 3,136 11 8.86
3 Bank of America Merrill Lynch (BAML) 3,067 11 8.67
4 Lloyds Bank 2,346 10 6.63
5 Morgan Stanley 2,138 5 6.04

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3 Wells Fargo Securities 33,922.42 99 8.24%
4 JPMorgan 31,992.55 93 7.77%
5 Credit Suisse 24,807.99 61 6.03%