CMBS bondholders look to take the initiative in workouts

14 Oct 2010

After months of responding retroactively to borrowers’ restructuring proposals, CMBS investors are set to take the initiative.

As revealed in regulatory announcements over the last week, bondholders in at least two European CMBS deals will be meeting to discuss restructuring options before borrowers canpresent their proposals as a fait accompli.

Last month Hatfield Philips, special servicer of troubled conduit CMBS Talisman 7, called for noteholders to ...

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