Tyndall Meridian Trust TMT, a listed property trust with interests in 28 commercial properties located throughout Australia, is set to tap the securitization markets for the first time with an A$112 million $62.9 million commercial mortgage backed CMBS deal.
A banker at Westpac, sole lead manager on the transaction, says that presentations have been made to investors and hopes pricing will happen either at the end of this week, or most likely early next.
The bonds, to be issued through the TMT Finance special purpose vehicle, are collateralized by a secured loan between the SPV and Tyndall Investment Management TIM, a subsidiary of TMT, over a portfolio of 18 commercial properties. Cash...
