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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 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

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 47,881.49 152 10.95%
2 JPMorgan 40,615.47 114 9.29%
3 Wells Fargo Securities 37,061.63 106 8.48%
4 Bank of America Merrill Lynch 32,097.67 104 7.34%
5 Credit Suisse 28,257.94 85 6.46%