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White Tower Issuer May Be Bound For Default

The issuer of White Tower commercial mortgage securitizations could be headed for a technical event of default due to reporting covenants, one London-based financial services firm has warned.

  • 07 Dec 2009

-- Daniel O’Leary

The issuer of White Tower commercial mortgage securitizations could be headed for a technical event of default due to reporting covenants, one London-based financial services firm has warned. On Friday, Ernst & Young, auditor of the White Tower 2006-3 commercial mortgage securitization, resigned after filing its ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
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1 Citi 90,620.08 256 11.16%
2 Bank of America Merrill Lynch 77,768.99 216 9.58%
3 JPMorgan 68,302.06 194 8.41%
4 Wells Fargo Securities 67,736.13 189 8.34%
5 Credit Suisse 54,172.98 137 6.67%