Bank of America Merrill Lynch is bringing the third deal of the year from its Taurus CMBS shelf, with the transaction this time around backed by UK student housing. The £232.22m deal references Libor, like its predecessor Taurus 2019-2. CMBS has been a laggard compared to much of the rest of the UK securitization market, which has switched over Sonia, the replacement rate for sterling Libor. Taurus 2019-3 is offering a 4.7 year triple-A tranche with ...
BAML is issuing its third deal 2019 under the Taurus CMBS banner. The £232.22m ($289.34m) UK student housing backed deal will reference LIBOR, unlike much of the UK securitisation market, which has migrated to SONIA.