BAML sets out stall for liquidation finance CMBS Taurus

BAML 230x150
By Owen Sanderson
23 Jun 2014

Bank of America Merrill Lynch has set out initial pricing thoughts on Taurus CMBS UK 2014-1, the capital markets exit for the financing on Apollo’s purchase and liquidation of a distressed UK retail portfolio.

Initial price thoughts are 150bp area on the £133.3m A/A-rated 'class A' notes, 260bp-275bp on the BBB-/BBB-rated £48.8m 'class B' piece, and 375bp-400bp on the BB/BB-rated £29.5m 'class C' bonds, giving a blended cost of 207bp at the tight end.

The interest rate on the whole loan is ...

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