BAML follows with Italian CMBS as QE gives reason for optimism

By Tom Porter
29 Jan 2015

Bank of America Merrill Lynch priced its private equity sponsored Taurus CMBS this week, the second transaction backed by Italian assets already this year. Bankers expect that tightening yields on more mainstream products will have a positive impact on the CMBS market in the coming months.

The €286.425m Taurus 2015-1 IT transaction securitizes three commercial real estate loans totalling €301.5m, made to private equity firms Cerberus, Blackstone and Orion. BAML will retain €15m of the structure for risk retention purposes.

The loans are backed by 14 properties in northern Italy. Cerberus’s Calvino loan is secured ...

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