BAML prices CMBS at wide range of guidance

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By Tom Brown
05 Sep 2019

Bank of America Merrill Lynch priced Taurus 2019-2 at 120bp over Libor, with senior notes landing towards the wide range of initial price thoughts released on Tuesday.

Coverage was announced at 1.5x of IPTs on the triple-A rated 'A' tranche on Tuesday, sufficient demand for the transaction to be upsized from £318.1m to £366m on Wednesday. Demand also shot up for the class ‘C’ notes, with coverage reaching 2.8x, up from 1.6x.

However, coverage ...

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