BoA and Barclays lead knockout Blackstone CMBS

By Tom Brown
18 Feb 2021

Investors are wolfing down a Blackstone UK logistics CMBS led by Bank of America and Barclays, and books have risen to more than £2bn for the £323m deal. The transaction could help rejuvenate a market scarred by the pandemic, syndicate bankers said.

The senior notes for Taurus 2021-1 have been tightened way past initial talk of low 100s to 85bp over Sonia, down 25bp from guidance, with the £158m tranche 5.5 times covered.

Coverage is even more impressive for the mezzanine tranches, with 6.8 times and 7.7 times seen ...

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