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Titan Europe CMBS LTV Breach Likely

A new valuation of the Titan Europe 2007-1 commercial mortgage-backed securitization ordered by servicer Capmark will likely see the Credit Suisse deal breach its loan-to-value covenant.

  • 13 Oct 2008

--Alex Sebastian

A new valuation of the Titan Europe 2007-1 commercial mortgage-backed securitization ordered by servicer Capmark will likely see the Credit Suisse deal breach its loan-to-value covenant. This is the latest European CMBS to fall foul of plummeting commercial property values. The new valuation will provide a more ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
View full table
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
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1 Citi 117,398.62 338 11.04%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%