Paul Hastings Advises Servicer on Restructuring of Largest CMBS ever issued in Europe
London, UK - Paul Hastings (Europe) LLP, a leading global law firm, announced today that it represented Capita Asset Services, as servicer of the EUR 4.3 billion CMBS transaction issued by German Residential Asset Note Distributor plc (the "GRAND CMBS"), the largest CMBS ever issued in Europe, with respect to the restructuring of the GRAND CMBS.
Unusually, the restructuring of the GRAND CMBS has been implemented by a solvent scheme of arrangement, a first for a CMBS restructuring.
Collectively the GRAND CMBS debt is serviced by approximately 180,000 properties across Germany.
London Finance partner
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