CMBS reawakened as BAML sells Coeur Défense debt

By Tom Porter
21 Aug 2014

European CMBS supply rose unexpectedly this week as Bank of America Merrill Lynch privately placed €410m of securities backed by debt used by Lone Star to purchase the Coeur Défense office complex in Paris. Elsewhere, Avenue Capital quickly executed its £107.3m AYR Issuer student housing CMBS.

In a private club deal on Wednesday BAML priced two unrated tranches of bonds at par, both with 3.64 year weighted average lives. A €328m Class A tranche with a loan to value ratio of 50% was priced at a spread of 185bp over three month Euribor, and ...

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