Former Berlusconi assistant derails Deutsche CMBS

The repayment of the first European multi-loan CMBS since the crisis is mired in a legal tug-of-war between Blackstone, the deal’s sponsor, and Italian media group RCS, which is chaired by Urbano Cairo, a former assistant to Silvio Berlusconi.

  • By Tom Brown
  • 21 Feb 2019

Noteholders in Deco 2014 Gondola — an Italian CMBS issued by Deutsche Bank — are being asked to vote on whether to agree to a loan extension to the Delphine loan, the only asset still backing the notes.

The vote is needed due to a claim by ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 2,007 6 16.61
2 Goldman Sachs 1,798 4 14.88
3 BNP Paribas 1,434 4 11.87
4 Barclays 1,097 2 9.08
5 Morgan Stanley 1,094 2 9.06

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1 Citi 20,542.69 67 10.85%
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3 Bank of America Merrill Lynch 17,976.22 56 9.49%
4 Wells Fargo Securities 16,568.24 48 8.75%
5 Barclays 13,499.53 45 7.13%