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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
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1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

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 12,356.92 41 13.15%
2 Bank of America Merrill Lynch 10,716.42 32 11.41%
3 Barclays 9,195.07 28 9.79%
4 JPMorgan 7,774.38 29 8.28%
5 Wells Fargo Securities 7,444.83 29 7.93%