Mayer Brown advises Bank of America Merrill Lynch on €410 million CMBS
27 August 2014
London - Leading global law firm Mayer Brown has advised Bank of America Merrill Lynch as arranger on a €410 million commercial mortgage-backed security (CMBS) secured by the Couer Defense office complex in Paris, currently valued at €1.29 billion.
The €410 million transaction, the first French CMBS since 2007, is split into two tranches comprising the €328 million Class A Notes and the €82 million Class B Notes, and is listed on the Irish Stock Exchange.
Coeur Defense is owned by Lone Star, a global private equity firm.
David O’Connor, Banking & Finance partner at Mayer Brown, said: “This deal is another indication of the continuation of the European CMBS market recovery and we are delighted to have assisted Bank of America Merrill Lynch on this transaction.”
The Mayer Brown team was led by Banking & Finance partner David O'Connor who was assisted by Banking & Finance senior associate Noman Ali and associate Kunel Tanna, Tax Transactions & Consulting partner Sandy Bhogal and senior associate Ben Fryer (all London). French law advice was provided by Mayer Brown Banking & Finance partner Francois-Regis Gonon and associate Wye-Peygn Morter (both Paris).
Mayer Brown also advised US Bank Trustees Limited as note trustee and security trustee and in its various agency roles. The Mayer Brown team was led by Corporate Trust & Agency of counsel Gary Silverman who was assisted by Banking & Finance associate Trasa Duffy (both London).