CMBS steps out as Banca IMI and Cairn price fashionable deal

choo shoe
By Tom Porter
23 Jan 2015

Banca IMI and Cairn Capital priced and issued the first European CMBS transaction of the year this week, with the deal being used to refinance a luxury fashion complex in Milan.

The €203m Tibet CMBS was pre-placed with European and US institutional investors and closed on Thursday.

The deal is the first commercial mortgage-backed deal originated, structured and distributed by an Italian bank since 2007, Banca IMI said.

The underlying loan, arranged and underwritten in full by Banca IMI, ...

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